accelerating prices has brought into sharp focus their conflicting stands on rubber imports and stocks. Rubber prices touched record levels as it rose 22% in the past couple of months.
Michelin North America Inc. ranked No. 1, Goodyear was second and Bridgestone Americas Inc. came in third in the annual Rubber & Plastics News ranking of North America’s rubber product makers.
Shares of The Goodyear Tire & Rubber Company (NYSE:GT) are trading very close to calculated support at $9.65 with current price action closing at just $10.01 places the stock price near levels where traders will start paying attention.
The Association of Natural Rubber Producing Countries has lowered its forecast for growth in global natural rubber supply this year, which could lend further support to prices amid already strong demand.
China-focused private equity firm Origo Partners (OPP.L) will spend up to $6.65 million buying a stake in a Chinese recycling company, making its third investment in the region since raising $30 million to fund such deals.
LANXESS, the world's largest manufacturer of synthetic rubber, today announced the key suppliers for its new butyl rubber plant on Jurong Island in Singapore. With these suppliers in place, the project execution phase is now in full swing to set up the infrastructure for the construction of the plant. Production is scheduled to start in the first quarter of 2013 and the plant represents an investment of up to EUR 400 million (US$575 million) for LANXESS.
At the final annual meeting of the Elastomer Products Group, its successor organization, the American Association for Rubber Manufacturers, set providing value to its members as its primary goal.
The Goodyear Tire & Rubber Company (NYSE: GT) today announced that Damon Audia, Scott Honnold and Jenny Wang have been named to new leadership positions.
The Goodyear Tire & Rubber Company /quotes/comstock/13*!gt/quotes/nls/gt (GT 11.52, -0.54, -4.48%) will enlist its famous airship fleet to remind motorists that June 6-12 is National Tire Safety Week. The three Goodyear blimps - Spirit of America, based in Carson, Calif.; Spirit of Goodyear, based in Akron, Ohio; and Spirit of Innovation, based in Pompano Beach, Fla.; will fly with specially designed day and night messages beginning today.
Continental Tire of the Americas recently received the Rubber Manufacturers Association Safety Improvement award. The RMA award is designated for manufacturing plants in the U.S. that achieve an incidence rate that is both 10 percent better than its rate in the previous year, and the same or better than the RMA average incidence rate.
Industrial employment in Louisiana fell 2.3% over the past twelve months according to the 2010 Louisiana Manufacturers Register®, an industrial directory published annually by Manufacturers' News, Inc. (MNI) Evanston, IL. MNI reports Louisiana lost 4,704 industrial jobs between April 2009 and April 2010, a small loss compared to many states across the nation, but still larger than the 1.7% loss MNI reported for Louisiana over the 2008-2009 period.
Eight minutes before the labor contract's expiration, negotiators from Yokohama Tire Corp. and United Steelworkers Local 1023 reached a tentative agreement for a new four-year pact.
It may be the only room of its kind in the world: A sprawling space displaying 50 scale models of a single company's far-flung factories and other facilities.
The problem is Goodyear Tire & Rubber Co. doesn't know what to do with it.
Kraton Performance Polymers, Inc. (NYSE: "KRA"), a leading global producer of styrenic block copolymers or "SBC's" (together with Kraton Polymers LLC and its other subsidiaries "Kraton"), announced plans to invest approximately $27 million in its Belpre, Ohio plant to enable production of Poly-Isoprene Rubber. This strategic decision will allow Kraton to manufacture this product in the U.S. to support increased customer demand and the projected long-term needs of the market.
Apollo Tyres Ltd., India’s biggest tiremaker by market value, plans to raise prices to partly offset rubber costs that have surged to a record on rising Chinese demand and lower output of the raw material in Thailand.
The doors to diversity programs at major corporations aren’t open to most rubber product manufacturers simply because they don’t have minority ownership.
Cooper Tire & Rubber Company (NYSE: CTB) will announce its first quarter 2010 financial results before the market opens on Wednesday, May 5. Company management will discuss the financial results in a conference call beginning at 11 a.m. Eastern Daylight Time that same day.
In his address at The Goodyear Tire & Rubber Company's (NYSE: GT) 2010 Annual Shareholder Meeting today, President and Chief Executive Officer Richard J. Kramer said he is confident in Goodyear's ability to grow as global economies recover.
The ACS Rubber Division is expanding its Cleveland Rubber Expo to include advanced materials and healthcare, in partnership with a number of universities and enterprises involved in the biomedical industry.
Thai Eastern Group (TEG) and Sumitomo Rubber Industries (SRI) have agreed to form joint ventures to manufacture automobile tyres to serve the Japanese automobile industry. Together, they will produce products under such brands as Dunlop, Falken and Goodyear as well as other rubber-related products.
Dunlop Nigeria, now known as DN Tyre & Rubber Plc, is reportedly seeking to resume local manufacturing as against its previous posture of only marketing goods manufactured in Ghana.
The Goodyear Tire & Rubber Company (NYSE: GT) has announced that Pierre Jambon has been named vice president of the company's off-highway business. In his new role, Jambon will run Goodyear's global aviation and off-the-road businesses as well as its North American racing and motorcycle/ATV businesses. He will report to Curt Andersson, President, North American Tire.
After several years of outstanding growth, sales for rubber molder Valley Rubber L.L.C. leveled off in 2009.
But a flurry of activity beginning late last year has the company in position to build revenues significantly in 2010 and more than double sales in five years.
A patented process involving silanes has led to the design and testing of new type of radial tire.
Former University of Cincinnati Engineering Professor Emeritus Wim van Ooij, now chief scientist at the spin-off company he helped set up, filed the patent for the process in the name of the University of Cincinnati in 2004. However, until now, work on its development has been carried out in secret.
The recent rise in natural rubber (NR) prices has prompted the country’s leading tyre companies to re-think their price strategy. A hike in tyre prices for the second time in a year seems imminent, say analysts.
An international exhibition on plastics and rubber technologies and materials was held in Vietnam ' s southern Ho Chi Minh City on Thursday, the Vietnam News Agency reported.
Michelin North America is hiring at most of its South Carolina plants and said it came through the recession in good shape, developments from a bellwether employer that economists see as a sign the state’s economy may be on the mend.
Come April, vehicle owners may have to shell out a little extra for tyres. With natural rubber prices northbound, tyre makers are mulling a
price hike to improve margins. While companies such as Ceat and Birla Tyres have decided to hike prices by 2-5%, others like Apollo Tyres and JK Tyre are closely tracking the market before taking a final call on the quantum of increase. If tyre makers indeed go in for a price hike next month, it will be the second successive hike this year. Tyre companies had increased prices in January.
Toyo Tire Holdings of Americas Inc. (TTHA) reports the company’s president, Masaharu Yoshimoto, will be retiring at the end of March, and that Takashi Shimizu has been appointed its president effective April 1.
The chairman and outgoing chief executive of Goodyear Tire & Rubber Co. received a pay package valued at $14 million in 2009, a 40 percent increase from the year before, according to an Associated Press analysis of a regulatory filing.
The Goodyear Tire & Rubber Company today announced the results of its offer to exchange any and all of its $650 million in aggregate principal amount of 7.857% notes due in 2011 ("old notes") for a new series of 8.75% notes due in 2020 ("new notes") and its solicitation of consents from holders of the old notes to certain proposed amendments to the terms of the indenture that governs the old notes.
Cooper Tire & Rubber Company ( CTB)today reported net income of $39 million for the quarter ended Dec. 31, 2009, a $183 million improvement from the same period in 2008. Net sales were $773 million, an increase of $137 million, or 22 percent, from the prior year. Operating profit was $60 million for the quarter, a $224 million improvement from a loss of $164 million in 2008. The Company reported net income of 63 cents per share during the quarter on a diluted basis. These results included income of $6 million from discontinued operations during the quarter.
Cooper Tire & Rubber Co. will increase its ownership in its Cooper Chengshan (Shandong) Tire Co. Ltd. joint venture in China to 65 percent at the request of its partner there, Chengshan Group.
The Goodyear Tire & Rubber Company (GT) filed Annual Report for the period ended 2009-12-31.
The Goodyear Tire & Rubber Company has a market cap of $3.37 billion; its shares were traded at around $13.9 with and P/S ratio of 0.2. The Goodyear Tire & Rubber Company had an annual average earning growth of 23.3% over the past 5 years.
The digging won't begin in earnest until April, but a foot of snow was cleared to make room for a few ceremonial shovels of dirt at a dignitary-studded groundbreaking ceremony for Bridgestone Americas' new $100 million technical center in Akron.
Michelin & Cie., the world’s second- largest tiremaker, said profit tumbled 71 percent last year as sales to automakers and trucking companies plunged and reorganization costs rose.
The Goodyear Tire & Rubber Company (NYSE: GT) has been selected as the exclusive developer of fuel-efficient military tires for the Fuel Efficient Ground Vehicle Demonstrator (FED) program, under a contract awarded to Ricardo, Inc., the U.S. subsidiary of Ricardo plc. The FED program, launched in late-2008 by the U.S. Army's Tank Automotive Research, Development and Engineering Center (TARDEC) in Warren, MI, has the overarching goals of enhancing military vehicle technology, reducing fuel consumption on the battlefield, and reducing the nation's dependence on oil.
Chinese firms bought tyre rubber grades for more than $3 a kg ahead of the Lunar New Year and other companies stepped up purchases before the dry winter season curbs supplies, dealers said on Thursday.
Tire materials supplier Momentive Performance Materials USA Inc. has set up a tire research and development laboratory at the former headquarters in Charlotte of Continental Tire North America Inc. (CTNA).
Malaysia’s rubber products export is expected to hit RM11.1bil this year with the bulk contributed by rubber gloves, said Malaysian Rubber Export Promotion Council (MREPC) chief executive officer Datuk Teo Suat Cheng.
Americas, Inc. (BSAM) and Bridgestone de Costa Rica, S.A. (BSCR) in donating approximately ¥7 million (more than US$75,000) to assist with relief efforts following the January 12 earthquake in Haiti.
Cooper Tire & Rubber Company (NYSE: CTB) will announce its 4th-quarter/year-end 2009 financial results before the market opens on Tuesday, March 2. Company management will discuss the financial results in a conference call beginning at 11 a.m. Eastern Standard Time that same day.
Akron's legacy tire makers probably would have preferred that the U.S. Supreme Court loosened federal restrictions on corporate election campaign donations three or four decades sooner than it did.
In a nod to its products that help millions of motorists reach their destinations on a daily basis, The Goodyear Tire & Rubber Company today announced the three medal winners of the Goodyear 'Get there' Award, a recognition program designed to honor those most responsible for helping American athletes achieve their dream of competing on the world's greatest stage in Vancouver. The program highlights the often little-known stories of those people who work tirelessly behind the scenes to help America's athletes achieve their goals.
The world’s leading synthetic rubber company LANXESS has brought forward its plans to build a new butyl rubber facility in Singapore. The company will hold a groundbreaking ceremony in May, 2010, and production is expected to start in the first quarter of 2013. The 100,000 tons per annum plant on Jurong Island will require an investment of up to EUR 400 million (575 million USD).
Rubber exporters are expected to incur higher costs under a new regulation that requires all exporters to present original value-added invoices to customs departments in the country.
On January 8, 2010, the Venezuelan government announced the devaluation of its currency (the bolivar fuerte) and the establishment of a two-tier exchange structure.
Shares of Goodyear Tire & Rubber Co. dropped Wednesday after an analyst said the tire maker's cash balance in Venezuela could drop in half after President Hugo Chavez announced a currency devaluation.
On April 16, 1965, Davidson Rubber Company of Dover, a subsidiary of the McCord Corporation of Detroit, Mich., announced its intention to build an 80,000-square-foot plant in Farmington, potentially employing 300 people. The site selected was an 80-acre parcel off Route 11 adjacent to a railroad spur.
Leading tyre companies have increased prices due to the sharp rise in the prices of natural rubber (NR) and scarcity of the commodity in the market. Apollo Tyres and JK Tyres have already raised their prices and other companies are expected to follow suit.
In late December Cooper Tire & Rubber announced the appointment of Brenda S. Harmon to the position of senior vice president, Global Human Resources and Communications. In her new role, Harmon is leading all human resource and employee relations activities for the company.
To Chuck Chaffee, CEO of BRC Rubber & Plastics Inc., defining success in today’s difficult business environment really isn’t any different than during more robust times.
Sumitomo Rubber Industries has announced its intention to establish two joint venture companies in Thailand, together with Thai Eastern Group. One of these joint venture companies will centre on a natural rubber plantation, while the other on the setting up of a natural rubber processing plant.
India's Apollo Tyres Ltd. and JK Tyre and Industries Ltd. will raise tire prices by January to offset a surge natural rubber price, which have climbed faster in the last few weeks.
Yokohama Rubber Co. Ltd. will participate in the Dubai International Motor Show 2009, which will run from Dec. 15-Dec. 20 in Dubai, United Arab Emirates.
Reducing manual handling and improving safety were the aims when Stanley Handling supplied ROBUR PV80 Microlifters to the Cooper Tire & Rubber Company's European HQ and manufacturing site in Wiltshire.
Many manufacturers at the Asian-Pacific International Plastics and Rubber Industry Exhibition, held Nov. 25-28 in Shanghai, seemed to be breathing a tentative sigh of relief.
During the presidential campaign of 2008, then-Sen. Barack Obama suggested that U.S. drivers could save as much energy through proper tire inflation and car maintenance as oil companies could gain by drilling for oil from new sources offshore.
Now that the company is committed to staying in town, Little Tikes may lead the way in a trend of returning jobs from overseas to the United States, according to its general manager.
Dow Chemical Co (DOW.N) defended its high-priced acquisition of Rohm & Haas to investors on Thursday, saying the deal "revitalized" its portfolio and should help earnings grow in the next two years.
Specialty chemicals group LANXESS AG today announced it is moving the global headquarters for the Butyl Rubber business unit from Fribourg, Switzerland, to Singapore to better serve the growing demand in the Asia-Pacific.
DuPont has announced that Kevin Westgate of The Goodyear Tire & Rubber Company (NYSE: GT) in Akron, Ohio, is a recipient of a DuPont award that recognizes the commercialization of an impactful new technology.
Cooper Tire & Rubber had a busy week at SEMA, revealing plans for a series of new tires for some of its associate lines and talking up its green tire success.
Cooper Tire & Rubber Co. /quotes/comstock/13*!ctb/quotes/nls/ctb (CTB 17.08, +0.68, +4.15%) said Monday that it swung to a third-quarter profit of $46.8 million, or 77 cents a share, from a year-ago loss of $55.4 million, or 94 cents a share. On average, analysts polled by FactSet Research were expecting a quarterly profit of 62 cents a share. The company said it incurred restructuring costs of $13 million, or 22 cents a share, related to the closure of its Albany, Ga., facility in the quarter. The Findlay, Ohio-based tire maker said its sales rose to $803 million from $794 million.
The Goodyear Tire & Rubber Company (NYSE: GT) today announced that it plans to begin production of 63-inch, 12,000-pound off-the-road (OTR) tires in the fourth quarter of 2010.
Beliefs learned in his younger years inform the business methods of Axel Heitmann, boss of Lanxess, which this year won the ICIS Company of the Year awarda
Goodyear Tire Co. said Thursday that it will close its plant in Spartanburg, S.C., by year-end and shift work to the Goodyear Dunlop plant in the Town of Tonawanda and a facility in Georgia.
Goodyear Racing and the National Dirt Racing Association have entered into a multi-year agreement keeping Goodyear as the exclusive tire provider for the sanctioning body’s Late Model Series.
The market for raw rubber in Sabah should be opened to include private sector participation for Sabah's smallholders to enjoy competitive prices, similar to their counterparts in Sarawak and the Peninsular.
The Goodyear Tire & Rubber Company (NYSE: GT) will report third quarter 2009 financial results before markets open on Wednesday, October 28, to be followed by an investor conference call at 10 a.m.
Pep Boys – Manny, Moe & Jack has agreed to buy the assets and assume the property leases of Florida Tire, a predominantly Goodyear dealer with 10 outlets in central Florida, for $4.35 million.
Goodyear announced farmer Richard Ledger as the winner of the Goodyear Farming Innovation Award 2009 at the British Ploughing Championships on 10 October.
A four year labor contract achieves Goodyear’s (NYSE:GT) objectives. The Goodyear Tire & Rubber Company (NYSE:GT)recently said that the four-year master labor contract ratified by members of the United Steelworkers union achieves the company's objectives and will help it to realize profitable growth by producing tires in North America.
The Goodyear Tire & Rubber Company (NYSE: GT) today announced the appointment of John "Jack" D. Fish as senior vice president of global operations. Fish replaces Christopher W. Clark, senior vice president of global sourcing, who in June announced his intention to retire after 36 years with Goodyear.
Next week, the U.S. government will slap a tariff on tires from China, so Kevin Hanagan is urging his customers to buy them now. Hanagan runs a car repair and tire service in Gaithersburg, Md.
At the moment, he's on the phone with someone looking for trailer tires. Hanagan has some for $86 apiece, but he tells the customer to hurry.
"You may want to buy them today because our wonderful president imposed a 35% tariff on these Chinese tires," says Hanagan. "So they will be going up."
"The ‘Google’ of Rubber" – that’s how General Manager John M. Bonforte Sr. describes Monmouth Rubber and Plastics Corp.’s new technical assistance program, "Ask John."
Saturday, September 12, LANXESS AG, one of the world's leading suppliers of high-performance rubber, celebrated the invention of synthetic rubber by chemist Fritz Hofmann exactly 100 years ago by staging a scientific colloquium with high-ranking speakers in Cologne. Over 400 guests from 18 nations attended the event, which was held in the Gürzenich Banqueting Hall, to learn more about the latest innovations, the future possibilities and the market potential of this versatile material.
Cooper Tire & Rubber Company (NYSE:CTB) jumped up $1.52 or 10.43% to $16.09 on an unusual volume of 715K shares . In an S-3, Cooper Tire filed to sell up to 1,527,778 shares of stock on behalf of the Cooper Tire & Rubber Company Spectrum Retirement Plan, which is referred to as the pension plan.
Dozens of business leaders from around the globe gathered at The Goodyear Tire & Rubber Company's (NYSE: GT) world headquarters recently to learn the latest in global demand trends in the automotive and tire industries and how these trends will challenge the tire maker's research and development organization.
For the first time in their long histories, Michelin and Harley-Davidson have joined forces to develop the all-new Michelin Scorcher “31” tire, which carries both companies’ trademarks on its sidewalls and the signature Harley-Davidson logo carved into the shoulder.
Bridgestone Corp. regained the No. 1 spot last year in Tire Business’ annual ranking of the world’s tire makers, despite reporting lower tire division sales in its yen-denominated accounts.
A key deadline in a fierce trade spat over Chinese tires falls Wednesday and the opposing sides are pumping plenty of air — just guess the temperature — into the public debate.
The RightThing, the leader in recruitment process outsourcing (RPO), today announced that it has been selected by The Goodyear Tire & Rubber Company, one of the world's largest tire companies, to provide recruiting and hiring support for its North American employee base.
In celebration of Goodyear’s 111th anniversary, the company is recognizing its most significant moments in history with a compilation of “Goodyear’s top 111 innovations, inspirations and historic firsts.”
Rubber producer, Sperry & Rice Manufacturing Co. LLC, announced today it is expanding its operations here, creating up to 20 new jobs and providing advanced training opportunities for existing employees.
Cooper Tire & Rubber Co. will inject $39 million into its pension plan in an agreement with the Pension Benefit Guaranty Corp. that was announced Wednesday, August 12.
Top Japanese tyre maker Bridgestone tumbled to an operating loss in the second quarter, hit by the economic slump and a stronger yen, but raised its full-year outlook again after a surprise upgrade in June.
Cooper Tire & Rubber Company (NYSE: CTB) today announced a quarterly dividend of 10.5 cents per share on common stock, payable Sept. 30, 2009, to stockholders of record at the close of business Sept. 2, 2009. This will mark the 150th( )consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
