Reuters reported that auto parts maker Federal-Mogul Holdings Corp. has received a proposal from billionaire Carl Icahn’s Icahn Enterprises L.P. to buy shares of the company it does not already own.
Shareholders will receive $7 per share in cash, representing a premium of about 41% to Federal-Mogul’s Friday closing.
Icahn currently owns 82% of Federal-Mogul Holdings.
Americas’ first quarter 2024 sales of $2.6 billion were down 9.7%.
The Goodyear Tire & Rubber Company said its first quarter 2024 sales were $4.5 billion, with tire unit volumes totaling $40.4 million. For the first quarter, Goodyear's net loss was $57 million compared to a Goodyear net loss of $101 million a year ago. Leadership said the year-over-year improvement was driven by increases in segment operating income. The 2024 period also included items like, on a pre-tax basis, Goodyear Forward costs of $28 million and rationalization charges of $22 million, compared with pre-tax rationalization charges of $32 million in 2023. Goodyear said Goodyear Forward costs are comprised of advisory, legal and consulting fees and costs associated with planned asset sales.
At CES, Autel Energy showcased its suite of EV charging solutions and an electrified 1969 Ford Bronco.
Nearly all products in the Firestone family of tires have been upgraded over the past three years, and Bridgestone is on track to have all of its consumer tire portfolio across both the Bridgestone and Firestone brands either upgraded or replaced by the end of 2020.
Nokian Tyres opened its first U.S. manufacturing facility and launched numerous new products. See what’s in store for 2020.
Nexen Tire opened its North American Technology Center and debuted the Roadian GTX. Find out what’s in store for 2020.
The open house also featured a trade show, a buyers event and dinner for dealers part of the Turbo Wholesale Tires group.
With the add-on, shops can send Department of Transportation (DOT) identification and access tire specifications.
Bill Schafer brings 30 years of experience from Michelin, where he held various leadership roles during his tenure.
The Brawler range includes both press-on and mold-on tires for wheel loaders, skid steers, material handlers, excavators and telehandlers.
