Goodyear Sees 1H Profits, Tight N.A. Outlook
Goodyear Tire & Rubber Co. reported sales of $11 billion through the first six months of 2011, up 25% from the $8.8 billion in sales posted at the same time last year. The result was a year-to-date net income of $143 million, up from 2010’s net loss of $19 million. Goodyear North American Tire posted
Titan Has Hot Quarter and Hotter Half
Titan International posted all-time record quarterly sales of $404.4 million, up 76% compared to $229.7 million in the second quarter of 2010. And that record helped drive first half sales to $685.3 million, compared to $426.1 million in the first half of 2010. Year-to-date net income was $22.2 million, compared to $6.6 million in 2010.
UHP Surge Drives Hankook Quarterly Record
Hankook Tire Co. has announced second quarter global sales of KRW 1,580 billion, a rise of 21% year on year, and the company’s best ever quarter.
SR Costs Set To Rise as NR Prices Soar
(From SA Treads) – 2011 could well turn out to be the most challenging year yet, at least where the tire business is concerned. Amid rumors of one or possibly even two more new tire price hikes before the year is through, consumers justly have cause for concern. Largely driving this trend is escalating raw
Pirelli Russia JV Gets Former Amtel-Vredestein Plant
On July 25 Pirelli, Russian Technologies and Sibur Holding signed an agreement to transfer the former Amtel-Vredestein Kirov passenger car and light commercial vehicle tire plant to the joint venture formed by Pirelli and Russian Technologies last year. The transfer is to take place before November 2011. The agreement also entails the transfer of further
Evonik Now Orion Engineered Carbons
Evonik Corp.’s divestiture of its carbon black business is expected to be complete by Aug. 1, but with it will also come a name change. Announced earlier this year, Evonik divested itself of its Carbon Black Business Unit and sold it to affiliates of Rhone Capital and Triton. According to the company, the new business
Monro Sees Marginal Tire Gains in 1Q
Monro Muffler Brake claimed that its same-store tire sales increased just 2% year-over-year in the first quarter of 2011. The retail chain reported sales for the period were up 4.2% to a record $164.8; comparable store sales increased only 2.1%, following a 5.1% increase for the same period last year. Comparable store sales increased approximately
Tire Rack Lends a Helping Hand to Soap Box Derby
TireRack.com has stepped up to partner with "25 Hill," the movie written, produced and directed by Corbin Bernsen in an effort revive interest in the All-American Soap Box Derby.Tire Rack will be promoting the movie and support its cause locally and nationally through its connection with automotive enthusiasts. In addition, the online retailer shows up
Are Michelin Guides on the Way Out?
Groupe Michelin’s tire business may be experiencing strong growth, yet an article published by the Financial Times indicates that the French company’s guide business – which accounts for less than 1% of Michelin’s total annual sales – is losing more than 15 million euros a year.
Conti Completes Purchase of India’s Modi Tyres
On July 15, India’s Modi Rubber Ltd. completed the sale of its Modi Tyres subsidiary to Continental AG. Modi informed the Bombay Stock Exchange that the entire shareholding in Modi Tyres Co. Ltd., a total of 56.046 million equity shares, changed hands for a share purchase price of 18.5 million euros. Both parties have agreed