Goodyear Joins Price Hike Trend
Goodyear Tire & Rubber Co. will increase prices on all of its consumer tires in North America by up to 6% as of June 1. This includes Goodyear, Dunlop and Kelly-Springfield brands. The company cites rising raw material and transportation costs as the reasons for the increases. Goodyear is the latest in a long list
Nexen’s Q1 Earnings Jump 43%
Nexen Tire Corp.’s first quarter earnings jumped 43% from a year earlier on the back of increased prices. Net profit reached 25 billion won (US$22.4 million) in the January-March period, compared with a profit of 17 billion won a year earlier, the company said in a regulatory filing. Sales increased 8.6% to 249 billion won
Round World, Flat
One of the problems with trying to cover the global tire industry is the shaky nature of news resources. Sure, we get a tremendous amount of reliable news from our partners at Tyres & Accessories in Europe and other tire publication friends in the four corners of the world. But we also scan other media
More Price Increases Coming
Two more tiremakers have jumped on the price increase bandwagon. Kumho Tire USA and Pirelli Tire North America joined a fast-growing list of tiremakers adjusting pricing going into the new year. Kumho said it would raise prices on all of its passenger, light truck/SUV and commercial truck tires by up to 8% as of Jan.
Toyo Taps Hagan to Head Sales
Industry veteran John Hagan has been named senior director of sales operations for Toyo Tire USA Corp. Replacing Armand Allaire, who left Toyo for a similar post with Kumho Tire USA Inc., Hagan will be responsible for all of Toyo’s sales operations and will report directly to president and CEO Yasushi Takagi. Hagan’s past experience
Toyo’s Dave Taylor Closes Career
For the second time in a week, Toyo Tire USA Corp. has lost a senior executive. Dave Taylor, vice president of technical services, announced his retirement after 23 years with the company. Toyo said Taylor played a key role in the pioneering of niche sizes and products such as the Toyo Open Country M/T and
Industry Veteran to Head Kenda Sales and Marketing
Bob Phoenix has been named vice president of sales for Kenda USA’s Automotive Tire Division.
5 Questions With – Rick Brennan
We caught up with Rick Brennan, Kumho Tire USA’s vice president of marketing, during the company’s recent dealer meeting in Punta Cana, Dominican Republic. Q: This morning you were talking about opportunities outside the traditional tire dealer channel. What specifically are you looking to do distribution wise? A: We don’t have any plans to jump
Two-Thirds of South Korean Firms Have Liquidity Problems
(Korean Herald) Twenty out of 30 South Korean companies are suffering from a serious cash flow problem this year, a survey found.
Tyremakers Resist SBR Q2 Contract Price Hike
(ICIS News) Major tyre producers said on Thursday they were resisting proposed second-quarter contract hikes for non-oil grade 1502 styrene butadiene rubber (SBR) as the increase was too steep.