rubber Archives - Page 27 of 347 - Tyrepress

Tyres can’t function without this critical raw material. Whether its natural or synthetic rubber you are interested in, articles bearing this tag feature this indispensable polymer.

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Toyo to gain 2.5M unit extra US capacity

Toyo Tire & Rubber says expansion work on its White, Georgia passenger car and light truck tyre plant in the US is set to begin and will be finished in three years’ time. This fourth-stage capacity expansion project will initially lift production capacity at the Toyo Tire North America Manufacturing Inc. plant by 2.5 million units per annum. The 20 billion yen (£133.7 million), 44,000 square metre expansion will increase the facility’s size by 50 per cent and house equipment that represents half of all plant capacity.

9th August 2013/12,345 Comments/by Tyrepress Editors

Apollo Tyres Q1 profit up 19%

Apollo Tyres Ltd has reported first quarter 2013-2014 financials including a 19 per cent rise in net profits to 1.66 billion rupees (22.8 million euros; US$29.7 million). The announcement followed the approval of a large dividend pay-out of 50 per cent per share (0.50 per equity share), for the year ended 31 March 2013.

8th August 2013/12,345 Comments/by Tyrepress Editors

Cooper sales and profits fall in Q2

Cooper Tire & Rubber’s second quarter 2013 results – most likely the last it will post before its incorporation into Apollo Tyres – showed a year-on-year drop in net sales, operating profit and net income. Net sales amounted to US$884 million, a decrease of $174 million compared with the same period a year ago, and operating profit for the second quarter was $69 million, $26 million lower year-on-year and 7.8 per cent of net sales. Net income was $35 million, or $0.55 per share, down from $52 million, or $0.82 per share, for the same period last year.

8th August 2013/12,345 Comments/by Tyrepress Editors

Cooper posts quarterly dividend

Cooper Tire & Rubber has announced payment of its 166th consecutive quarterly dividend to shareholders. A dividend of 10.5 cents per share will be paid on common stock, payable 30 September 2013 to stockholders of record at the close of business 5 September 2013.

7th August 2013/12,345 Comments/by Tyrepress Editors

Stellana appoints US industrial sales manager

Moulded polyurethane and rubber wheels and tyre manufacturer Stellana US Inc. has appointed a new industrial sales manager. Jack Garcyznski joined the company on 1 July and is responsible for developing sales of custom poured polyurethane parts throughout the United States.

7th August 2013/12,345 Comments/by Tyrepress Editors

Lanxess revises full-year, 2014 projections following Q2 decline

Although it retains a positive view of long-term developments, Germany’s Lanxess AG has admitted its current performance falls short of the company’s own expectations. Board of Management chairman Axel Heitmann spoke frankly upon the release of the specialty chemicals firm’s second quarter 2013 results – figures that include a 95 per cent year-on-year drop in net income.

6th August 2013/12,345 Comments/by Tyrepress Editors

Apollo-Cooper deal clears antitrust hurdle

On 26 July, the Hart-Scott-Rodino (HSR) review period for Apollo Tyres’ pending acquisition of Cooper Tire & Rubber expired with no action taken by the Federal Trade Commission or the Department of Justice in the US. In a statement issued on 2 August, Cooper Tire explained that the expiration of the HSR review period satisfies one of the conditions necessary for the acquisition transaction to close. Cooper and Apollo now expect that, subject to the remaining customary closing conditions, the transaction will be completed before the end of the year.

5th August 2013/12,345 Comments/by Tyrepress Editors

Bridgestone extends golf sponsorship commitments

Bridgestone’s title sponsorship of the World Golf Championships-Bridgestone Invitational has been extended through to 2018. The continuation of this arrangement, which began in 2006, was announced by Bridgestone Corporation CEO Masaaki Tsuya and Bridgestone Americas CEO and president Gary Garfield together with Commissioner Tim Finchem, who represents the International Federation of PGA Tours, during a press conference prior to the leaders teeing off for the final round of the 2013 Bridgestone Invitational. Bridgestone also extended its official marketing partner relationship with the PGA Tour through 2018 and will remain the “Official Tire of the PGA Tour and Champions Tour.”

5th August 2013/12,345 Comments/by Tyrepress Editors

Michelin names new UK MD

Wayne Culbertson has been appointed managing director of Michelin Tyre Plc, replacing Eric Le Corre who has taken up the Paris-based position of head of public affairs.

5th August 2013/12,345 Comments/by Tyrepress Editors

Sumitomo publishes CSR report

Sumitomo Rubber Industries has released its CSR Report 2013. At this stage it is only available in Japanese; the English-language version will be available at a later date. The report is available for download at srigroup.co.jp/csr. In addition to publishing its CSR Report, the company has updated its Japanese CSR website with detailed CSR guideline information.

2nd August 2013/12,345 Comments/by Tyrepress Editors

Q2 results prompt Conti to revise full-year earnings

Reporting its second quarter and first half results, Executive Board chairman Dr. Elmar Degenhart cautioned that the stronger development seen in the second quarter shouldn’t be viewed as a turnaround; rather, sales developed better due to seasonal and technical factors. The European market – where Continental makes 55 per cent of its sales – was described as unstable, and following what the company calls “modest development” in the region’s replacement tyre market in the first half of the year, Continental states its previous estimate for the segment “no longer seems possible.” It now anticipates an “increase of one per cent at best.” The company also said growth in the Asia and NAFTA regions is “also expected to diminish as the year progresses.” As a result, Continental has decreased its full-year forecast from growth of five per cent to four per cent, or “around €34 billion”.

2nd August 2013/12,345 Comments/by Tyrepress Editors

Motorway messages a ‘great reminder’ about tyre safety

TyreSafe has voiced its approval of new advisory messages shown on UK roads. The Highways Agency is displaying the slogan ‘safe tyres save lives’ on its overhead electronic advisory signs in bid to help reduce the number of tyre related incidents occurring on the nation’s road network. The Highways Agency’s choice of message may have been prompted by the more than 2,500 tyre related breakdowns reported by the agency in May and June alone.

1st August 2013/12,345 Comments/by Tyrepress Editors

Deutsche Bank lifts Goodyear estimates after strong Q2

As mentioned on 30 July, Goodyear Tire & Rubber’s second quarter net earnings per share of US$0.67 were markedly above the average analyst estimate. Deutsche Bank Equity Research Automotive comments that Goodyear’s Q2 operating earnings per share of $0.76 were a full $0.32 cents per share above its own prediction.

1st August 2013/12,345 Comments/by Tyrepress Editors

Tsuruno to head Yokohama Asia

Career Tracks, Company News, International News, News

Yokohama Rubber Corporation has appointed Koichi Tsuruno president of Yokohama Asia Co., Ltd. Tsuruno begins in this role on 1 August. He retains his position as corporate officer and president of Yokohama Tire Manufacturing (Thailand) Co., Ltd., which he commenced on 1 July.

31st July 2013/12,345 Comments/by Tyrepress Editors

Goodyear income 39% above consensus

Company News, News

Goodyear Tire & Rubber has announced what it says are record second quarter earnings, and even its European business showed signs of improvement. Net income more than doubled year-on-year from $85 million in Q2 2012 to $181 million, or $0.67 per share. This exceeded the average analyst estimate by $0.19, and company chairman and CEO Richard J. Kramer said the result demonstrates “the disciplined execution of our strategies by Goodyear associates around the globe as our operations become more efficient, reliable and integrated.”

30th July 2013/12,345 Comments/by Tyrepress Editors