Editorial: GM sustainable NR efforts off to impressive start

With climate change, deforestation and water becoming increasingly important issues, assuring natural rubber sustainability has become crucial to every industry that depends on NR. And while it’s been less than a year since General Motors pledged to support sustainable rubber production, it’s clear that the auto maker has made progress in this laudable goal.

Of course, tackling this issue isn’t a short-term goal, and one that can’t be done alone. To that end, the Detroit-based automotive giant has worked to gain the support of a wide coalition of allies to the effort. It’s encouraging, as well, to see the effort put forth over the past nine months.

Four of the world’s top tire producers were there last May when GM made its initial announcement, and the auto maker soon after had a prominent role in delivering presentations at Michelin’s advanced mobility conference in Montreal. Then this past November at a meeting of the Tire Industry Project, CEOs of 11 tire makers vowed to take the necessary steps to lead to sustainable NR.

Read the source article at Rubber and Plastics News

Cooper Tire Breaks Ground on Mississippi Distribution Center

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Cooper Tire & Rubber Co. recently broke ground on its distribution center in a business park that straddles the Tennessee-Mississippi border, according to The South Reporter.

At the groundbreaking, Mississippi Gov. Phil Bryant joined Cooper’s Bob Sager, the company’s director of North American supply chain, as well as other development officials in excitement about Cooper’s investment in the state.

Read the source article at Tire Review

LyondellBasell Announces Entry into a Definitive Agreement to Acquire A. Schulman, Inc.

LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, and A. Schulman, Inc. (NASDAQ: SHLM), a leading global supplier of high-performance plastic compounds, composites and powders, today announced that they have entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. The acquisition builds upon LyondellBasell’s existing platform in this space to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.

Read the source article at Stock Market Data Today

Tire maker Michelin posts higher 2017 profits, warns of currency hit

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PARIS (Reuters) – French tire maker Michelin reported higher profits for 2017 while warning of a likely hit from foreign exchange movements.

Net income rose 1.6 percent last year to 1.693 billion euros (1.52 billion pounds), the company said on Monday. Analysts polled by Inquiry Financial for Reuters had given a median net income forecast of 1.67 billion euros.

Read the source article at Stock Market Quotes and News

Linglong revenue up 32% in 2017 to $2B-plus

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YANTAI, China — Linglong Group Co. Ltd.’s revenue jumped by nearly one-third this past year over 2016, according to a recent filing on the Shanghai Stock Exchange.

Read the source article at Tire Business

Goodyear suffers double-digit earnings drops, Q4 net loss

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Akron, Ohio — Goodyear suffered double-digit drops in segment operating income for the quarter and fiscal year ended 31 Dec and reported a tax-reform-related net loss for the quarter.

Goodyear cited elevated raw materials costs and the “unfavourable” impact of reduced production volumes on costs for the operating earnings declines, and said the fourth quarter loss was driven by a $299 million (€244 million) one-time, non-cash tax charge related to US tax reform.

Read the source article at European Rubber Journal

Menegaux to succeed Senard as Michelin CEO in 2019

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CLERMONT-FERRAND, France — Group Michelin’s board of directors is recommending Florent Menegaux, senior executive vice president and chief operating officer, to succeed Jean-Dominique Senard as CEO when Mr. Senard’s term expires in 2019.

Read the source article at Tire Business

Hankook eyes continued sales growth, profits rebound in 2018

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SEOUL, South Korea—Hankook’s management expects profits to rebound in 2018 as the company focuses on increasing its sales of higher value-added products and diversifying its OE portfolio.

Read the source article at Rubber and Plastics News

Only one thing stops me buying Avon Rubber

All Avon Rubber (AVON) needs to do is not mess up, to prosper. It should make a good long-term investment. Perennially on my watchlist, I’ve decided to add Avon Rubber to the Decision Engine.

Read the source article at interactive investor

Toyo Tires Announces Organizational Restructure, Personnel Changes

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Toyo Tire & Rubber Co. has announced changes to its organizational structure, assignments for corporate officers and personnel changes, taking effect the start of February.

Toyo’s President and CEO Takashi Shimizu said in a press release that the company changed its organizational structure to better align with its operational functions and reinforce management in each of the company’s divisions: R&D, sales, production and other corporate functions.

Read the source article at Aftermarket News