Siemens Hires Banks for Possible VDO IPO
(Akron/Tire Review)) News reports out of Germany say that Siemens AG has hired Goldman Sachs Group Inc., Morgan Stanley and Deutsche Bank AG to act as lead coordinators for a possible initial public offering (IPO) of its VDO Automotive unit.
Minority Conti Subsidiary Seeks Funds to Revive Fortunes
(Staffordshire, U.K./Tyres & Accessories) Tanzanian tyremaker General Tyre East Africa (GTEA) has reported that it requires some US$7.5 million to reverse its fortunes.
Rubber Companies in Price-Fixing Probe, Arrests Made
(Akron/Tire Review) According to various news reports, the U.S. Justice Department arrested executives of six companies – including one from Bridgestone Corp. – in an investigation of price fixing on marine hose.
New Cooper Captain Steers Steady Ship
(Staffordshire, U.K./Tyres & Accessories) As Cooper Tire’s motorsports season ramps up, Tyres & Accessories met with Cooper Tire & Rubber Europe managing director Julian Baldwin.
Conti Publishes Strong First-Quarter Figures
(Staffordshire, U.K./Tyres & Accessories) Continental AG’s consolidated sales for the first quarter of 2007 rose by 9.8% compared with the same period of the previous year to 3.964 billion euros.
Titan Releases First-Quarter Results
(Akron/Tire Review) Titan International Inc. reported record net sales of $226.3 million for the first quarter of 2007, a 24% increase over the first quarter of 2006, but realignment of OTR manufacturing operations reduced income to $14.3 million, compared to $17.2 million in the first quarter of 2006.
Tighter Squeeze: Low-Cost Options Add Pressure, But Private Branders Remain Strong
What do you do when all around you is chaos – a shrinking market, harsh price-based competition from overseas, lost domestic business and predictions of an early demise? U.S. private brands have seen this movie before, back when the first Japanese-produced tires hit these shores and again when South Korean tires made their way here.
Settled, But Not Settling: Turmoil Passed, CTNA Focus Shifts to Building Brand, Rebuilding Dealer Trust
Plant closings, union battles, multiple management changes, low fill rates, irate dealers, shifting directions…the last five years have been difficult for Continental Tire North America. But, the past is the past. Since the appointment of Continental AG CFO Alan Hippe as president and CEO of CTNA in May 2005, CTNA officials point out, progress has
Back On Track: Cooper Says New CS4 Touring Tire a Step in the Right Direction
Cooper Says New CS4 Touring Tire a Step in the Right Direction
Staying The Course: CTNA Pumping Up General Brand Even as It Focuses on Stability, Consistency
CTNA Pumping Up General Brand Even as It Focuses on Stability, Consistency