Goodyear to Announce Second Quarter 2017 Financial Results

curata__OBngZibNOsr2DsJ.jpeg

AKRON, OhioJuly 20, 2017 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) will report second quarter 2017 financial results on Friday, July 28, to be followed by an investor conference call at 9 a.m.

Participating in the conference call will be Richard J. Kramer, chairman, chief executive officer and president; and Laura K. Thompson, executive vice president and chief financial officer. 

Prior to the commencement of the call, the company will post the financial and other related information that will be presented on its investor relations website: http://investor.goodyear.com.

 

Read the source article at PR Newswire

FCA, Santander – a case study in subprime

curata__v5ilZ9mFjrt8ZyS.jpeg

It’s classic subprime: hasty loans, rapid defaults, and, at times, outright fraud. Only this isn’t the U.S. housing market circa 2007. It’s the U.S. auto industry circa 2017. A decade after the mortgage debacle, the financial industry has embraced another type of subprime debt: auto loans. And, like last time, the risks are spreading as they’re bundled into securities for investors worldwide. No one is suggesting that subprime car loans will unleash the next crisis.

Read the source article at Front Page

Kumho Tires to Take Legal Action against KDB’s Management Evaluation

Kumho Tires strongly opposed the Korea Development of Bank (KDB)’s evaluation of its management and decided to take a legal action.

Earlier on July 7, the KDB fixed the rating of the management evaluation of Kumho Tire in 2016 as “D” and notified of it through the latter’s shareholders council.

Kumho Tire said on July 10 that the company officially made an objection to the rating D which the creditors notified of as the rating was unfair and made artificially for a special purpose.

“The official rating of Kumho Tire by the KDB is an obvious defamation against the management of Kumho Tire,” said Lee Han-seop, president of Kumho Tire.  “We disagree on this and will appeal for re-rating and devise all legal measures.”

Read the source article at BusinessKorea

Tire & Rubber Industry Rundown: European Rubber Journal

curata__5dcTY0w56ZNAM9x.png

Asia BD price drop… Nike sales… Clariant-Huntsman link-up… Michelin buys wine reviewer… Conti acquires… Eversafe Rubber… SKF sued ?… Firestone leak… UK down… Kumho limbo… Thai NR…

Read the source article at European Rubber Journal

Farm Tire Market – North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025

curata__SGDVyHmJ4uJVvYa.jpeg

This report is on North America farm tire market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the North America farm tire market growth during the said period. Factors that are playing a major role in driving the North America farm tire market have also been covered in the study.

Download the full report: https://www.reportbuyer.com/product/4977659/

Read the source article at PR Newswire

Economy is strong, but auto sales drop in 1st half of year

curata__3HbycHMD49O9z4o.jpeg

DETROIT (AP) — Unemployment is down, consumer confidence is up, and gas prices and interest rates are still low. Even so, U.S. auto sales fell 3 percent last month. It was the sixth straight monthly decline as sales dropped off last year’s record pace. For the first six months, car and truck sales fell 2.1 percent, the first such decrease since the financial crisis in 2009. But auto executives and industry analysts say it’s no cause for panic.

Read the source article at apnews.com

Shares in Italy’s Prelios gain 10 percent on report of Chinese bid

The Milano Finanza website reported investors in Prelios, which is owned by tyre maker Pirelli and banks UniCredit and Intesa Sanpaolo, had agreed to sell their stakes in Prelios to CEFC.

The report said the sale would trigger a mandatory takeover bid on remaining Prelios’ shares which would be launched at a premium of 20-25 percent to current market prices.

Prelios declined to comment. CEFC was not immediately available for comment.

Read the source article at Stock Market Quotes and News

GoodYear earns spot at ‘Fortune 500’ list

curata__iqbFiHw1gm8HNLh.jpeg

For the 63rd consecutive year, The Goodyear Tire & Rubber Company earned a spot in Fortune magazine’s annual ranking of the 500 largest companies in the United States.

Based on 2016 sales of $15.2 billion, Goodyear is the 184th largest business in the country. It is ranked fourth in the magazine’s Motor Vehicles and Parts category.

Read the source article at Traction News

Summary of Latest News in the Global Rubber Industry

curata__9e9LowznpKebNB2.jpeg

Summary of Latest News and Events in the Global Rubber Industry …

June

21/6 Indonesian authorities are unfazed by a recent drop in natural rubber prices as market fundamentals remain strong, Reuters has reported. According to…

Read the source article at European Rubber Journal

Dunlop Aircraft Tyres sold to Liberty Hall Capital Partners for US$135 million

curata__CAvGqeHozrdQtym.jpeg

Liberty Hall Capital Partners, a private equity firm focused exclusively on investments in businesses serving the global aerospace and defence industry, has acquired Dunlop Aircraft Tyres Ltd. in a transaction valued at US$135 million. Dunlop Aircraft Tyres represents Liberty Hall’s first portfolio company focused on providing aftermarket products and services to the global aerospace and defence industry. A number of tyre makers had previously been linked with the sale of Dunlop Aircraft Tyres.

Read the source article at Tyrepress