Toyo Tire U.S.A. Corp. (Toyo Tires) welcomes Tim Chaney to the company as vice president of marketing. With deep roots in vehicle manufacturing, Chaney brings more than 30 years of marketing and automotive experience to Toyo Tires, including 15 years at Kia Motors America where he most recently served as vice president of marketing communications. There he played a key role in marketing, advertising and communications strategy.
Hankook Tire has announced John Overing will be the company’s new director of sales and marketing in Canada. Overing will oversee the region’s sales team and will be instrumental in identifying opportunities for growth within the Canadian market.
Overing joins the company with more than 18 years of experience in the tire industry, bringing with him a wealth of knowledge and industry expertise.
Boston, Massachusetts – Cabot Corp. expects to see “solid growth” in the North American tire sector due to ‘long-term fundamentals’ of the market, according to company CEO Sean Keohane.
In a full-year results conference call on 2 Nov, Keohane said tire-plant investments were ramping up in North America with “a shift towards more local production that will support growth rates in that range.”
FINDLAY, Ohio- Cooper Tire & Rubber Company (NYSE:CTB) today reported third quarter 2017 net income of $62 million, or diluted earnings per share of $1.18, compared with $49 million, or $0.90 per share, last year. The quarter included a $39 million benefit from lower product liability costs. For comparison purposes, the third quarter of 2016 included a non-cash pension settlement charge of $11.5 million related to the lump-sum distribution of benefits offered to certain former employees.
CLERMONT-FERRAND, France–Group Michelin registered a 5-percent rise in revenue for the quarter ended Sept. 30 to $5.88 billion on the combined effect of rising OE demand, a sustained rebound in demand for mining tires and a “highly favorable” price mix.
RUMA, Serbia–Trelleborg expects to start phasing in new capacity at its Serbian tire production plant in the third quarter of 2018, according to a company spokeswoman.
AKRON—Shin-Etsu Silicones of America Inc. is set to increase its production capabilities for the North American market.
The firm is investing $21.3 million to add a 44,000-sq.-ft. manufacturing facility at its Akron campus, which currently consists of five buildings—production sites and a technical center—and 200 employees.
The new site will add 20-30 jobs, according to Eric Bishop, North America marketing manager for Shin-Etsu, and is set to be operational by 2019, though Bishop said the firm hopes to begin some production in 2018.
Cooper Tire & Rubber Company has reported a net income of US$62 million (diluted earnings per share of $1.18) for the third quarter of 2017, up 26.5 per cent from a year earlier.
Speaking to a group of industry executives at the 2017 Annual Hose Conference, Andreas Gerstenberger, Continental’s executive vice president of industrial fluid solutions, said there are megatrends developing in the automotive and industrial hose businesses and those developments are not threats but opportunities.
Though the quarterly numbers for the first quarter of 2017-18 were weak, analysts are hopeful that conditions will improve significantly for Apollo Tyres in the coming quarters. This is because tyre dealers have already started restocking after the first quarter of destocking triggered by the implementation of GST from July 1.
Similar restocking pick-up in auto sales should help them in the Original Equipment Manufacturer (OEM) sales as well. Replacement demand (69% of industry’s ..