Hankook to Raise Prices 10%
Hankook Tire intends to increase its operating profit by 32% this year, a target it will reach through the increased sale of high performance tyres and by raising prices to counter higher raw materials costs.
Michelin Hikes Prices in Europe
Groupe Michelin announced prices increases for European customers.
Analysts: 2008 Will Be ‘Another Year of Progress for Michelin’
Michelin’s full year 2007 results were “good,” according to a Deutsch Bank analyst note.
2007 Another Record Year for Conti
Continental AG is boasting its sixth consecutive year of record sales and earnings figures in 2007, and the company’s Executive Board chairman has expressed confidence this favourable pattern will continue.
Hankook Stock Jumps Following Morgan Upgrade
Hankook Tire’s share price has “jumped” 5.4% following an upgrade from Morgan Stanley.
New Report Values UK Tyre Market at ≤1.36 Billion
The latest report released by Dublin-based company Research and Markets indicates that the UK market for tyres and tubes was worth an estimated ≤1.36 billion at manufacturers’ selling prices in 2007.
Bridgestone Releases 2007 Financials
Full year 2007 financial results for Bridgestone Corp. were released on January 19, and these figures paint a picture of a healthy year’s trading.
Bekaert to Acquire 100% Ownership of Turkey’s Beksa
Multinational manufacturer of tyre reinforcement and other materials, NV Bekaert SA, has announced its upcoming acquisition of the 50% share in Turkish steel cord and metal fibre manufacturer Beksa Celik Kord Sanayi ve Ticaret A.S. that it currently holds jointly with Turkish conglomerate Haci √mer Sabanci Holding A.S.
Sales, Income Up for Bridgestone
Bridgestone Corp. claimed a 55% increase in net income for 2007, to $1.2 billion, against sales of $31.5 billion for the year.
Toyo Net Income Muted Despite Healthy Sales
Toyo Tire & Rubber Co. has released details of business performance for the first three quarters of the financial year ending Mar. 31, 2008.
Gajah Tunggal Plans 15% Sales Growth in 2008
Indonesia’s Gaja Tunggal is reported to have plans for increasing its sales by 15% during the course of 2008.
Sales Up, Net Profit Down at Sumitomo Rubber
Sumitomo Rubber Group has released interim results for the financial year ended Dec. 31, 2007.