Melksham, England—Avon Rubber has finished its 2019 fiscal year on a high note, having secured $340 million worth of long-term contracts and made a multi-million-dollar acquisition in the US.
Avon marks 2019 as ‘transformational’ year
ITRC moots exports curbs, again
The International Tripartite Rubber Council (ITRC) is planning another exports control to stabilise rubber prices, a Reuters report said. The council includes Thailand, Indonesia and Malaysia.
The ITRC said 2019 rubber production was expected to fall by 800,000 tonnes due to an outbreak of the Pestalotiopsis fungal disease, erratic weather conditions and sluggish tapping activities after a prolonged spell of low prices.
U.S., Canadian officials converge on Mexico City to seal final changes to trade deal – Reuters
WASHINGTON (Reuters) – Senior U.S. and Canadian officials were set to fly to Mexico City on Tuesday to work on the final changes to a languishing North American trade pact that could clear the way for a vote in the U.S. Congress before the end of the year. U.S. House Speaker Nancy Pelosi said on Monday night she expected the final language of the U.S.-Mexico Canada Agreement (USMCA) to be set by Tuesday, which would bring Democrats to a “moment of truth” on whether to proceed to passage.
Gates unveils hydraulic hoses for demanding environments
DENVER—Gates Industrial has introduced a new hydraulic hose line, which it says is redefining high-pressure hydraulic performance.
Michelin cancels treasury shares
Michelin – Compagnie Générale des Etablissements Michelin, to use the company’s full name – has decided to cancel 1,345,821 treasury shares, representing 0.75 per cent of the total shares outstanding. As indicated in a Euronext notice last week, the effective date of the resulting capital reduction is 9 December 2019.
IISRP to Honor Dr Gary M Marsh
The International Institute of Synthetic Rubber Producers (IISRP) will honor one of its outstanding technical leaders Dr. Gary M. Marsh at its next Annual General Meeting (AGM). He will receive the prestigious Institute Technical Award. The Award will be presented during the 61st AGM of the IISRP in Bangkok, Thailand on May 12, 2020.
USTMA Revises Forecast for 2019 U.S. Tire Shipments Upward
The U.S. Tire Manufacturers Association (USTMA) projects 2019 U.S. tire shipments will increase to 333.1 million units compared to 330.4 million units in 2018.
The latest projection is up from the 332.9 million units for 2019 which the USTMA forecast in July.
Original equipment (OE) passenger tire shipments are expected to decrease by 2.1 million units, while passenger tire replacement shipments are projected to increase by 6.4 million units compared to 2018.
Survey Finds Majority Of Americans Unsure Of Their Ability To Drive In Winter Weather
When it comes to driving during the winter, nine in 10 Americans don’t trust others to stay safe on the road, although only 41% are confident in their own winter-driving abilities. And with many roads across the U.S. experiencing icy conditions throughout the winter, 48% of drivers even avoid running errands or traveling at all (42%) due to weather concerns.
The global low rolling resistance tire market at a CAGR of over 10% during the forecast period
NEW YORK, Dec. 2, 2019 /PRNewswire/ — Global Low Rolling Resistance Tire Market: About this market This low rolling resistance tire market analysis considers sales from both aftermarket and OEMs end-users. Our study also finds the sales of low rolling resistance tire in APAC, Europe,…
Hankook earnings down 3.2% in Q3 despite higher sales
SEOUL, South Korea — Hankook Tire & Technology Ltd. reported a 3.2% drop in pre-tax operating income for the quarter ended Sept. 30 on 4.4% higher sales, citing “weakened consumer confidence caused by the global economic downturn” for “intensified tire market sales competition.”