Conti Said to Ready Another Bond Issue
September 2, 2010
Reports say that Continental AG plans to sell another $1.3 billion in bonds to refinance existing debt.
The company has not yet retained a bank to manage the bond issue, which reportedly equates to a junk bond issue.
Blo...
read more
Michelin or Goodyear? Analysts Make Their Choice
September 1, 2010
Analysts from investment bank Morgan Stanley have recommend investors buy shares in “Michelin against Goodyear” following its Alphawise surveys in Europe and the U.S.
Based on current market performance and taking cataly...
read more
Titan Offering Notes
September 1, 2010
Titan International has retained Goldman, Sachs & Co. to manage a cash tender offer of some $140 million in 8% senior unsecured notes that would come due in 2012.
The tender offer will expire on Sept. 28.
...
read more
Goodyear Set to Redeem Older Notes
August 31, 2010
Fresh from issuing $1 billion in new senior notes, Goodyear Tire & Rubber Co. now wants to redeem some of its older loans.
The tiremaker has called all of its outstanding senior notes due in 2011 and 2015 for redemption on Sept. 29...
read more
Economists Looking at Double-Dip Recession
August 27, 2010
The latest news on housing, jobs, cutbacks on corporate investments and manufacturing has left several top economists looking squarely at a double-dip recession.
"The odds of a double-dip are rising and uncomfortably high," Mar...
read more
Tire, Repair-Focused Business Brokerage Launched
August 25, 2010
Tire and automotive aftermarket industry veteran Art Blumenthal has launched a new business brokerage firm to help owners of tire dealerships and repair shops.
The national firm provides business intermediary and advisory services to b...
read more
Sales Up, Profits Fall for JK Tyre
August 16, 2010
JK Tyre & Industries, manufacturer of the JK Tyre, Vikrant and Tornel brands of tire, reported a 32% increase in sales in the first quarter of the Indian financial year.
In the three months to June 30, the company achieved a turno...
read more
Sumitomo Sales Jump 22% for First Half
August 13, 2010
Half-year results for Sumitomo Rubber Industries show net sales increasing 22.2% to 280,797 million yen.
During this six-month period to June 30, operating income amounted to 20,342 million yen, representing a margin of 7.2%. Net inco...
read more
Delticom Sees Robust E-Commerce Growth
August 13, 2010
In reporting its financial results for the first half of the 2010 financial year, Germany’s Delticom AG - the company behind mytyres.co.uk - observed a marked difference between the performance of its main e-commerce business and its comparati...
read more
Goodyear Offers $900 Million in Senior Notes
August 11, 2010
Goodyear Tire & Rubber Co. announced it has commenced a public offering of $900 million aggregate principal amount of 10-year senior notes. The offering was increased from a previously announced offering size of $750 million.
Goody...
read more
Lanxess Sees Q2 Earnings Growth as Rubber Demand Increases
August 11, 2010
Upon releasing chemical manufacturer Lanxess AG’s financial results for the second quarter of 2010, the company’s Board of Management chairman Axel Heitmann commented on the 10 best-selling Lanxess products: “This list features e...
read more
Bridgestone Sees 15% Global Sales Growth
August 6, 2010
Buoyed by recovery in global automaker demand, Bridgestone Corp. posted a profit through the first half of 2010, and has raised its expectations for the remainder of the year.
The company posted a $517.4 million profit for the six mont...
read more
Strong Sales Push Cooper to Strong First Half
August 5, 2010
Cooper Tire & Rubber Co. continued its strong 2010, posting a 27% increase in sales for the second quarter and a $57 million improvement in net income for the period.
Cooper posted second quarter sales of $804 million, up 27% year-...
read more
Kumho Tire Continues Recovery With Solid 2Q
August 5, 2010
Following a less than optimal 2009, Kumho Tire Co. has achieved positive results for the second consecutive quarter of this year.
The South Korean manufacturer’s revenue increased 34% year-on-year during the second quarter of 20...
read more
Nokian Sees Demand Growth Beyond Great 2Q
August 5, 2010
Net sales at Nokian Tyres rose 36.3% year-on-year during the second quarter of 2010 to 260.4 million euros, giving the Finnish tiremaker total net ...
read more
Toyo Sees Improved Sales, Earnings
August 3, 2010
Toyo Tire & Rubber Co. reported improved sales and earnings results for the first quarter of its 2010 fiscal year.
For the quarter – Apr. 1-June 30 – Toyo posted overall net sales of $775.93 million, up substantially from...
read more
Tiremakers See Broad Global Growth in June
August 2, 2010
Figures released by Pirelli and Groupe Michelin show growth in on-road tire markets across all global regions during June.
The tiremakers estimated growth in Europe’s OE passenger car tire market to be 9% and 8.9% during the mo...
read more
Conti Emerging Well From Crisis
August 2, 2010
In the words of Continental AG’s Executive Board chairman Elmar Degenhart, the German tire and automotive systems manufacturer “is well on its way to emerging from the crisis stronger than before.”
In particular, ...
read more
Sales, Income Up at Yokohama
August 2, 2010
Yokohama Rubber Co. has posted net income of 1.6 billion yen ($18.455 million) in the first quarter compared with a net loss of 1.8 billion yen in the same period of the previous fiscal year.
That result is for the three months from A...
read more
Apollo at the Cusp, Says Chairman
August 2, 2010
The 2009-10 financial year was, for Apollo Tyres, a year in which the company “walked new geographies, met different people, mingled with var...
read more
|
|
|