Bridgestone Americas Announces New Executive Hires for Procurement, Enterprise Project Management

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Bridgestone Americas, Inc. announced new senior hires to lead business functions and better enable the company’s growth, Bridgestone says.

Rebecca Vest has joined the company as senior vice president, procurement and strategic sourcing partnerships, and Andrea Arrowsmith joins the tiremaker as its vice president of transformation initiatives and enterprise project management office (EPMO).

Read the source article at Tire Review

David Herro Comments on Continental

Continental (XTER:CON)’s stock price has fallen due to industry-wide concerns about auto production volumes and tariffs, but we believe the company has superior end-market exposures and a lower risk profile than many of its peers. Continental’s tire business accounts for about 45% of the company’s earnings, and we find that it generates solid margins and returns relative to industry peers. Replacement tires account for a large portion of segment earnings and …

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American Tire Distributors Files For Voluntary Chapter 11 Reorganization

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American Tire Distributors Inc. (ATD) has entered into a definitive agreement with approximately 75 percent of its bondholders on the terms of a recapitalization that would reduce the company’s debt by approximately $1.1 billion and increase its financial flexibility as it continues its ongoing transformation. The terms of the agreement are substantially similar to those contemplated by the agreement in principle the company previously announced on Sept. 4.

Read the source article at Aftermarket News

Cabot acquires Chinese carbon black manufacturer

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BOSTON – Cabot Corp. has acquired Chinese carbon black manufacturing company NSCC Carbon (Jiangsu) Co. Ltd., from Nippon Steel Carbon Co.

Read the source article at Rubber and Plastics News

Global Tire Recycling Market Analysis Report 2016-2024

According to Goldstein Research, global tire recycling market is expected to grow from USD 0.95 billion in 2016, at a compounded annual growth rate of 2.1% over the forecast period 2016-2024. The increasing environmental concerns related to CO2 and scrap tires has led to adopt new strategies for recycling and reusing the waste tires and thus inducing the growth of the market.

Read the source article at Express Press Release Distribution

Tyre maker Michelin confirms 2018 guidance despite China slowdown

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Tyre makers such as Michelin and its rivals Continental and Goodyear have been hit by weaker demand in China, whose economy has been slowing, and the impact of adverse foreign exchange movements and commodity prices.

But Michelin said growth in Europe and north America meant it would stick to its overall 2018 financial targets.

Xavier Caroen, an analyst at French brokerage Bryan Garnier, said the statement would reassure investors that the French company had not been as badly affected as other tyre makers.

Read the source article at Stock Market Quotes and News

Goodyear Tire & Rubber : To Present At Morgan Stanley Investor Conference

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AKRON – The Goodyear Tire & Rubber Company today said it will webcast its presentation at the 2018 Morgan Stanley Laguna Conference in California on Sept. 14, 2018 . Richard J. Kramer , chairman, chief executive officer and president, will provide a business overview. A live, audio-only webcast of the presentation will be available at 11:45 a.m. EDT ( 8:45 a.m. PDT ) on the company’s investor relations website: http://investor.goodyear.com.

Read the source article at Stock Market Quotes and News

Tire maker Pirelli abandons Venezuela, adding to business exodus

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Pirelli, owned by Chinese state-owned firm ChemChina, said the sale to a consortium of South American entrepreneurs and the firm Sommers International would have no financial impact.

Pirelli’s plant in the city of Valencia has been closed since early last week, when about 100 of its 700 employees protested outside after finding the gates locked.

In a statement on Friday, Milan-based Pirelli said the disposal agreement called for “employment continuity.”

Read the source article at Stock Market Quotes and News

ATD reaches agreement with bond-holders, to reduce debt by up to $1.1 billion

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HUNTERSVILLE, N.C. — American Tire Distributors Inc. (ATD) has taken the second major step in the last six weeks to reduce costs, reaching an agreement in principle with holders of 70 percent of its bonds on terms of a recapitalization transaction.

Read the source article at Tire Business

Rubber Recycling Symposium: Early Registration Ends Today: Register Now

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Rubber Recycling Symposium: Early Registration Ends Today: Register Now!

Historically proven to be a great success, our biennial Rubber Recycling Symposium draws in an international audience of hundreds, including key players in the industry. With thought-provoking panels and ample networking opportunities, the Rubber Recycling Symposium provides a hub where thought leaders can interact and work towards the cooperative development of an environmentally sustainable industry.

Our theme for this year’s Symposium “Taking Sustainability to the Next Level” starts with the premise that we all must all play our part in building a sustainable world for our children’s children and beyond. But examining the idea closer to home, what does “taking sustainability to the next level” actually mean for the tire and rubber industry? Reusing goods and materials over and over to create a virtuous circular economy? Certainly. Creating a market environment that encourages and sustains products without the need for ongoing financial incentives? Absolutely. Producing more goods with fewer and fewer non-renewable inputs? Yes. How about producing fewer goods and doing more with less? Why not?

This year’s Symposium will address all these differing aspects of sustainability and, we hope, demonstrate that the tire and rubber industry continues to be a leader in understanding and being responsive to our environmental imperatives. 

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Sponsorship and Exhibitor Opportunities

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