124,000 125,400 1 Free cash flow: net cash from operating activities less net cash used in investing activities, adjusted for net cash flows relating to other financial assets, before distributions. 2 At period-end. Covid-19: impact of the health crisis on the Group’s financial position at June 30, 2020 Review of the information released by the Group during the first six months of the year On February 10, 2020, the Group issued its guidance for 2020 excluding any impacts from a systemic crisis caused by Covid-19. On March 18, 2020 at 6:10 pm CET, the Michelin Group …
The Association of Natural Rubber Producing Countries (ANRPC) is happy to release its Natural Rubber Trends & Statistics May 2020.
In line with the outlook reported by the ANRPC through the April issue of this publication, natural rubber (NR) prices started recovering since the last week of April driven by the positive sentiment generated by the relaxation of the COVID-19 containment measures and lockdowns, reopening of economic activities across countries, positive developments in crude oil market, and a substantial contraction in the global production of NR. The recovery is likely to continue, albeit at a slow pace and subject to a set of risk factors.
Indian tyre major JK Tyre has announced commencement of operations in the United States. JK Tyre has set up a new entity – Western Tires INC, based out of Houston, Texas, thereby embarking upon a plan to expand its reach globally.
JK Tyre has been exporting to the US for over past two decades through a network of local partners and with the acquisition of JK Tornel. The exports were also aided by enhancement of capacity at JK Tyre India. Moreover, the move was motivated thanks to a steady growth in the global markets including US. With the formation of Western Tires INC, the company now has its own marketing arm for the US that will focus on sales, service and network expansion. The after-sales service will be backed by a team of technical experts from India and Mexico.
NORTHVILLE, Mich., May 8, 2020 /PRNewswire/ — Cooper-Standard Holdings Inc. (NYSE: CPS), a leading global supplier of sealing, fuel and brake, and fluid transfer systems for transportation and industrial markets, today announced it has signed an agreement to divest its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations, to Mutares SE & Co. KGaA.
“This transaction, when closed, will enable us to focus company resources on our businesses that provide the greatest opportunity for growth and profitability,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “It is consistent with strategic initiatives that we have discussed for the past several quarters, and we expect it will be immediately accretive to our earnings and cash flows going forward.”
Beijing – China’s tire exports fell 11.3% year on year in the first quarter of 2020 to 102 million units, according to latest figures by General Administration of Customs.
Export value – presented in US dollars – for the quarter stood at $3 billion (€2.8 billion), representing a 13.2% drop year-on-year, the Chinese agency noted. Weight of such exports fell by 6.9% to 1.3 million tonnes.
Toyota chief executive and Japan Automobile Manufacturers Association (JAMA) chairman Akio Toyoda has a three-point plan to keep his country’s automotive industry working during the COVID-10 pandemic and prepared for a full return to production. At a call-to-action press conference, he told Japanese auto industry groups there are three keys thing they can do now.
Hangzhou, China – China’s biggest tire maker Zhongce Rubber Group (ZC Rubber) has fully resumed tire production across its manufacturing plants and expects to meet its sales target for this year, the company has announced.
ZC Rubber experienced workforce and supply disruptions at its production plants during the first 10 days of February, the tire maker said in a statement 7 April.
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.
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.
TOKYO, March 16 (Reuters) – In the Chinese coastal province of Jiangsu, where supply chains have been shattered by the coronavirus outbreak, one auto supplier has already shifted production of parts for Mazda Motor Corp 13,000 kilometres away to central Mexico’s Guanajuato State.