Analysts: First Quarter Tough for Cooper

(Clacton, U.K./Tyres & Accessories) Cooper Tire & Rubber’s passenger replacement tyre volumes declined 4.3% year-on-year in the first quarter of 2006, Deutsche Bank analysts have reported.

By Tire Review Staff
April 13, 2006

While this was slightly better than the market watchers feared, raw materials rose by more than expected, ruling out any advantages.

Even the $4.3 million Cooper is believed to have gained as a dividend from its shares in Kumho was not enough to offset the higher raw material costs.

“Based on spot prices for natural rubber (which accounts for 20% of raw material costs for tyre manufacturers), we anticipate additional pressure on tyre companies’ margins in the second quarter,” the analysts commented.

The Deutsch Bank analysts noted: “Q1 is a seasonally tough quarter from a cash-flow perspective.”

Ohio Tire & Auto Association Donates $3K at Annual Golf Outing

OTAA’s annual golf event raised funds for AACF while connecting Ohio Tire & Automotive Association members.

By Christian Hinton
September 20, 2023

The Ohio Tire and Automotive Association (OTAA) held its annual golf outing this year at The Country Club at Muirfield Village, close to the renowned Muirfield Village Golf Club, home of the PGA Tour's Memorial Tournament.

OTAA leadership welcomed around 116 OTAA members and thanked sponsors before teeing off and, following golf, attendees gathered for dinner, drinks and donations. OTAA leadership, including new President Jon Boyd, tire business manager, from Boyd’s Tire and Service, presented a $3,000 donation to the Automotive Aftermarket Charitable Foundation (AACF). OTAA also presented the William Floyd Distinguished Service Award to Tom White, owner of the six-store Tire Source chain based in Canton. White received the honor in recognition of his long-term dedication and contributions to the OTAA board and the broader Ohio tire industry.