China will contest any ‘unfair’ U.S. trade measures on steel: think-tank

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MANILA (Reuters) – China will oppose any “unfair and unreasonable” trade measures by countries such as the United States against its steel companies, a Chinese government think-tank said on Tuesday, arguing protectionism will “poison” the industry.

“Certainly we will protest against unfair and unreasonable measures launched by some countries such as the U.S.A. towards Chinese steel companies,” the China Metallurgical Industry Planning and Research Institute said in an email to Reuters.

“We will also study and discuss the counter-measures to try to seek a fair position for Chinese companies without any violation of W.T.O. (World Trade Organisation) agreement.”

Read the source article at Global Rubber Markets News

Yokohama to Supply Racing Tires for FIA World Touring Car Cup

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The Yokohama Rubber Co., announced that its Advan racing tires were adopted as the control tire for WTCR – FIA World Touring Car Cup races, which will run through 2019.

Under the two-year contract, Yokohama will supply Advan A005 as the dry-surface tire and Advan A006 as the wet-surface tire for the races. The size of both tires supplied will be 250/660R18.

Read the source article at Tire Review

Bridgestone and Versalis form strategic partnership

Bridgestone Americas (Bridgestone) and Versalis are forming a strategic partnership to develop and deploy “a comprehensive technology package to commercialize guayule in the agricultural, sustainable-rubber and renewable-chemical sectors.”

Read the source article at Tyrepress

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

Falken OE on Ram 1500

The Falken Wildpeak A/T AT3WA has been selected by Fiat Chrysler Automobiles as a factory-fitted option for the all-new 2019 Ram 1500 pickup truck. According to Sumitomo Rubber North America, Inc., the Wildpeak A/T will be supplied for mounting on the Ram 1500 in sizes LT275/65R18 (113/110S) and 275/55R20 (113T).

Read the source article at Tyrepress

Cooper Tire Announces Offtake Agreement With Sailun Vietnam For Production Of TBR Tires

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Cooper Tire & Rubber Co. has entered into a multi-year manufacturing offtake agreement with Sailun Vietnam Co. Ltd. for the production of truck and bus radial (TBR) tires for global markets. The offtake agreement gives Cooper a third global source of TBR tire production to meet growing customer needs. Tires will be manufactured under the Roadmaster, Dean and Starfire brands.

Read the source article at Aftermarket 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

Hexpol marks ‘best year ever’

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MALMO, Sweden — Hexpol A.B. has posted what it claims is its best year so far in terms of financial results.

In 2017, group sales rose 12 percent year-on-year to $1.5 billion, while operating profit increased 3 percent to just under $253.2 million, Hexpol said Feb. 2.

These results were posted during a fourth quarter that faced “continued raw materials price pressure” as well as a 3.5 percent decline in operating profit to $59.1 million, compared to the same quarter in 2016.

Read the source article at Rubber and Plastics News

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