The Tire and Rubber Association of Canada News
A quick look at the activity of insiders in the last 30 days gives reason to believe that company executives are betting on the respective companies they represent like never before. This could be an indication of the equity market performance in the coming years. The subject of this analysis is to interpret the current trend of insider buying and selling using empirical evidence.
Boston, Massachusetts – Cabot Corp. has withdrawn its financial guidance for fiscal year 2020 and is reducing planned capital expenditure in response to Covid-19 pandemic.
Despite a “solid” second quarter, ending 31 March, Cabot said it is withdrawing the outlook as future demand for the company’s products remain uncertain.
In addition, in order to maximise free cash flow, Cabot is looking to reduce previous plans for capital spending, said CEO and president Sean Keohane in a statement 30 March.
Franklin, Tennessee — Triangle Tyre Co. Ltd.’s tire plants in China are back to operating near full capacity after a lull created by the Chinese New Year and subsequent coronavirus shutdown.
“With much uncertainty about how the coronavirus pandemic will affect global tire production, we are grateful that the four Triangle plants are now operating at above 90% capacity,” Triangle Tire USA CEO Manny Cicero said.
Brussels – The European Tyre and Rubber Manufacturers Association has called for support measures to mitigate the increasingly severe impact of the Covid-19 pandemic on Europe’s tire industry.
Health concerns, supply shortages, low demand and government restrictions have led many ETRMA member companies to announce temporary closures of their European manufacturing facilities.
Beijing – Over 90% of China’s tire makers had resumed production as of the end of February, and most of those companies had 80% employees returning to posts.
Nevertheless, the facilities were running at an average of 45% utilisation rate, significantly lower compared with the same period a year ago, noted a China Rubber Industry Association’s tire sub-committee.
INDIANAPOLIS—”Steady with a chance of slowing.” That’s the forecast for 2020 for rubber product manufacturers, as determined by the State of the Rubber Industry Study, an annual report compiled by the Association of Rubber Products Manufacturers.
You’re not alone if you feel like every time you get a new hire trained, he or she leaves the business. It is a problem echoing across the U.S. retail tire industry.
And it may be the “new norm,” according to one expert who studies hiring trends in the industry.
It’s now been months since the health crisis emerged from Wuhan, China, first gripping a large swath of that country before moving overseas and creating what the U.S. Centers for Disease Control and Prevention said is the likelihood of a pandemic. The risk is still low in the U.S., despite reports of cases in several states and deaths now occurring on domestic soil.
The Tire Industry Association (TIA) is now accepting nominations for board service. Any member of TIA or official representative of an industry association may recommend candidates to the Nominating Committee. Nominations must be received at the TIA office no later than 5:00 p.m. EDT on Monday May 4, 2020 , for consideration.
Frankfurt, Germany –Germany’s rubber industry is set for zero-growth in 2020, after a 4.2% year-on-year decline to €11 billion in 2019, the WDK has forecast.
Both the tire industry and technical rubber segment posted a decrease in sales for last year, according to the German rubber industry association.
Tire deliveries fell 4.4% to €4.5 billion and technical rubber sales dropped 4% to €6.4 billion, said a WdK industry survey issued 4 March.