Triangle Tire net profit down 2.6% in Q1 2017

Despite a 36.3 per cent increase in operating income to RMB 2.2 billion (£249.4 million) in the first quarter of 2017, Triangle Tire reports that its year-on-year net profit declined 2.6 per cent in the first three months of the year to RMB 156.9 million (£17.8 million).

Read the source article at Tyrepress

Supply and demand of neutral bearish rubber fell sharply

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March, natural rubber continued unilateral decline in the trend continued to continue unilateral decline, and continue to hit a new low, but then encounter, stabilized stabilized, and returned to a technical rebound, which reflects the supply and demand of natural rubber market The relationship is reversed from the background and the essence of the reversal.

Prospects and Strategy Suggestions

Looking forward to April trend, by the international and domestic aspects of the neutral factors of the neutral intertwined effect, in the surrounding Tokyo City, Singapore rubber market both down the trend of deep down, Hujiao market outlook will continue the formation of the original deep down Of the trend, while subject to the global macroeconomic and financial situation neutral factors, although the short-term may fall sharply, but the medium-term may return to the low regional concussion trend, the operation should be short-term low-absorbing high-throwing.

Read the source article at Global Rubber Markets News

Goodyear Declares Dividend on Common Stock

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AKRON, Ohio, April 11, 2017 /PRNewswire/ — Directors of The Goodyear Tire & Rubber Company (NASDAQ: GT) have declared a quarterly dividend of 10 cents per share of common stock. The dividend is payable June 1, 2017, to shareholders of record on May 1, 2017. The payout represents an…

Read the source article at PR Newswire

Goodyear benefitting from tyre industry trends, says Kramer

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During the company’s annual shareholder meeting yesterday, Richard Kramer stated that trends within the global tyre industry are playing to Goodyear Tire & Rubber Company’s strengths and its strategy to drive profitable growth. This growth, he added, is best represented within the consumer tyre business by the rising demand for tyres with 17-inch and larger rim diameters – the market for this segment has doubled since 2010 and is expected to double again by 2020.

Read the source article at Tyrepress

Pirelli finishes 2016 on a high note

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Milan, Italy – Pirelli managed year-on-year revenue-growth of 1.6%, to €6.0 billion, for the full financial year 2016, the Italian tire-maker announced 31 March.

Earnings (EBITDA before non-recurring items) grew 2.4% to €1.18 billion, driven by “solid organic growth”. This was backed by a strong performance at its premium tire segment which Pirelli said now accounts for 64% of consumer tire sales.

Read the source article at European Rubber Journal

HF tops global tire & rubber machinery rankings

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London – HF Group (Harburg – Freudenberger AG) has retained its status as the world largest tire & rubber machinery maker, according to the findings of the ERJMachinery Survey 2017.

Despite a 5% fall in sales, German-based HF, which includes Farrel Ltd and Pomini Rubber & Plastics extended its lead in the global ranking by sales, published annually by European Rubber Journal magazine.

VMI leapfrogged into second slot on the table just by holding business at prior-year levels….

Read the source article at European Rubber Journal

Arlanxeo sales, earnings drop in “difficult” environment

Cologne, Germany – Arlanxeo, the 50:50 synthetic rubber joint venture between Lanxess and Saudi Aramco has reported a 5.2% decrease in sales to €2.71 billion in the full fiscal year 2016.

In its financial results for the year 2016, German-based parent company Lanxess said the drop in sales was due to “persistently difficult competitive environment.”

Read the source article at European Rubber Journal

Consumer Goods Stocks on Investors’ Radar — Trinseo

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NEW YORK, March 15, 2017 /PRNewswire/ — On Tuesday, benchmark US indices were in bearish colors as the NASDAQ Composite closed the trading session down 0.32%; the Dow Jones Industrial Average edged 0.21% lower; and the S&P 500 was down 0.34%. …

On Tuesday, shares in Berwyn, Pennsylvania headquartered Trinseo S.A. ended the session 0.07% lower at $70.30 with a total volume of 532,964 shares traded. Trinseo’s shares have advanced 0.50% in the last one month and 17.36% in the previous three months. Furthermore, the stock has rallied 106.35% in the past one year. Shares of the Company, which manufactures and markets synthetic rubber, latex binders, and plastic products in EuropeNorth AmericaLatin America, and the Asia/Pacific, are trading at a PE ratio of 10.47. The stock is trading 5.55% above its 50-day moving average and 25.26% above its 200-day moving average. 

Read the source article at PR Newswire

Goodyear Announces Pricing of $700 Million of Senior Notes

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The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has priced its offering of $700 million aggregate principal amount of 10-year senior notes. The notes will be senior unsecured obligations of the company.

The notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 4.875% per annum. Goodyear expects the offering to close on March 7, 2017, subject to customary closing conditions.

Goodyear intends to use the net proceeds from this offering, together with cash and cash equivalents, to redeem in full its $700 million in aggregate principal amount of 7.0% senior notes due 2022.

Read the source article at cnbc.com

Michelin 2016 income up, sales down

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CLERMONT-FERRAND, France (March 6, 2017) — Higher volumes and a rebound in demand in China and Europe helped Michelin register growth in operating income for the full year 2016, although sales revenue was off slightly.

Operating income from recurring activities rose 3.7 percent to $2.95 billion, while sales fell 1.4 percent to $22.9 billion, yielding an operating ratio of 12.9 percent, up about three-fourths of a point over 2015. Net income rose 43.1 percent to $1.83 billion.

CEO Jean-Dominique Senard called 2016 a “successful milestone in our strategic roadmap,” and said 2017 was expected to be “another year of growth, in line with the group’s 2020 objectives.”

In 2017, Michelin expects tire markets to track the trends observed in late 2016, in particular with the upturn in mining tire sales. At the same time, Michelin expects rising raw materials prices to impact earnings by nearly $990 million.

In response to the cost pressure, Michelin said it will “agilely manage prices so as to hold unit margins firm in businesses not subject to indexation clauses.”

Read the source article at Tire Business