Yokohama posts “highest-ever” sales and operating profit

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Tokyo – Yokohama Rubber Co. Ltd has posted a 32.3% year-on-year rise in operating earnings to $242.6 million on first-half sales 1.8% higher at $2.85 billion, the company announced 10 Aug.

YRC cited raw materials, exchange rate differences and the price/mix factor as reasons for the earnings improvement. Combined, these offset negatives such as lower tire unit sales volume and higher fixed costs.

Read the source article at European Rubber Journal

Earnings up 45% at Cabot rubber blacks unit

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Boston, Massachusetts – Cabot Corp. has reported a 45% year-on-year rise in earnings (EBIT) to $74 million at its Reinforcement Materials unit for its fiscal third quarter lifting margins 2 percentage points to 16%.

Higher earnings, said Cabot, were driven mainly by “continued…

Read the source article at European Rubber Journal

Unique Fabricating, Inc. Reports Second Quarter 2018 Financial Results

AUBURN HILLS, Mich.Aug. 9, 2018 /PRNewswire/ — Unique Fabricating, Inc. (“Unique” or the “Company”)(NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced its financial results for the second quarter ended July 1, 2018.

 

Read the source article at PR Newswire

Lanxess to sell stake in Arlanxeo to Saudi Aramco

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COLOGNE, Germany–Lanxess plans to sell its remaining 50 percent stake in Arlanxeo to its joint venture partner Saudi Aramco.

Read the source article at Rubber and Plastics News

Goodyear Tire & Rubber Co. (GT) Ceo Rich Kramer on Q2 2018 Results – Earnings Call Transcript

AKRON, Ohio, July 27, 2018 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today reported results for the second quarter and first half of 2018.

“We delivered strong operating performance in the quarter highlighted by impressive volume growth in our mature markets where we regained share, particularly in the more profitable 17 inch and greater rim sizes in the U.S. and Europe,” said Richard J. Kramer, chairman, chief executive officer and president. “Additionally, we achieved our price/mix and net cost savings goals for the quarter.”

Read the source article at Stock Market Insights

US automakers’ lower profits, see pitfalls for 2018

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Detroit’s automakers are profitable, but they face a turbulent second half of 2018. After second-quarter earnings reports Wednesday from all three domestic car companies, analysts and auto executives outlined mounting challenges in international markets, especially China, and the looming threat of President Donald Trump’s proposed 25 percent increase in tariffs on imported cars and parts, which could inflate prices across the board.

Read the source article at Detroit Free Press

Goodyear Tire & Rubber Co (GT) Holdings Increased by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. raised its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,253,989 shares of the company’s stock after acquiring an additional 4,122 shares during the period. Levin Capital Strategies L.P. owned approximately 0.52% of Goodyear Tire & Rubber worth $33,331,000 at the end of the most recent reporting period.

Read the source article at American Banking News

When Will Titan International Inc (NYSE:TWI) Become Profitable?

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When Will Titan International Inc (NYSE:TWI) Become Profitable? Brad Riley Reblog Titan International Inc’s ( NYSE:TWI ) : Titan International, Inc., together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally.

Read the source article at finance.yahoo.com

Barra: Trade uncertainty ‘will eventually’ impact GM operations

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DETROIT — General Motors is seeing cost increases in steel and aluminum amid uncertainty regarding tariffs and trade with the United States. However, the company has not delayed any projects or plans. That’s according to GM CEO Mary Barra, who said if uncertainty continues, it “will eventually” have an impact on its operations.

Read the source article at Front Page

Sumitomo aims ‘to grow with whole of market’

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Tire Business talked with Darren Thomas, senior vice president of sales and marketing for Falken Tire Corp., a unit of Sumitomo Rubber North America Inc., about his thoughts on the tire industry and how his company is performing heading into the second half of the year.

 

Read the source article at Tire Business