Michelin Remains the World’s Most Valuable and Strongest Tire Brand

Michelin remains the world’s most valuable and strongest tire brand with a brand value of US$7.1 billion and a BSI score of 86.2 out of 100. Michelin is by far the strongest brand in the tire segment with an advantage of 9 BSI points over the second strongest brand in the industry, Bridgestone (up 1% to US$7.0 billion). Michelin is the thought leader in the industry, its product diversification into punctureless tires with its Uptis prototype and association with premium events and excellent performance, have helped the brand maintain its strength and status

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What to look for in the Fed’s U.S. economic outlook

SAN FRANCISCO (Reuters) – U.S. Federal Reserve policymakers on Wednesday will publish their first economic projections since the coronavirus pandemic set off a recession in February, estimates expected to signal a collapse in output this year and near-zero interest rates for the next few years.

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Finnish tyre maker Nokian Tyres names Moisio as CEO

(Reuters) – Finnish tyre maker Nokian Tyres Plc (TYRES.HE) said late on Tuesday its board has appointed Jukka Moisio as chief executive, taking over from Hille Korhonen, whose three-year tenure was marked by decline of almost 50% in the company’s value.

Moisio, who headed packaging firm Huhtamaki (HUH1V.HE) from 2008 to 2019, will start on Wednesday.

“Jukka Moisio has a proven record in successfully leading stock listed companies and company turnarounds, delivering strong financial performance and shareholder returns,” Chairman Jukka Hienonen said in a statement.

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Yokohama Posts 90.4% Operating Profit Loss in Q1

The Yokohama Rubber Co., Ltd. posted a 90.4% decline in operating profit (1.2 billion yen, or about $11 million; down from 2019’s 12.878 billion yen, or about $120 million) in the first quarter of 2020.

The company also posted a 258 million yen (about $2.4 million) loss in Q1, compared with 9.1 billion yen (about $85 million) in profit in the same period of the previous year.

Read the source article at Tire Review

Conti ‘intensively’ monitoring European tyre demand and production, but R&D budgets intact

Following Continental’s first quarter 2020 financial results and reports that the company is preparing to cut its R&D budgets and European tyre production, Tyres & Accessories asked executives at the company’s Hanover, Germany headquarters to comment on the proposals.

Read the source article at Tyrepress

NR supplier Halcyon Agri, WWF to set up rubber trust fund

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SINGAPORE — Natural rubber (NR) supplier Halcyon Agri Corp. Ltd. and World Wildlife Fund (WWF) are joining hands to set up a “rubber trust fund” (RTF) to help enhance the sustainability of natural rubber. Supported by the Conservation Finance Alliance (CFA) Incubator grant, the two parties will develop a “first-of-its-kind financial mechanism model” that will […]

Read the source article at Global Rubber Markets News

AirBoss Announces 1st Quarter 2020 Results and Dividend

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Dividend The Board of Directors of AirBoss of America Corp. (the “Company”) has approved a quarterly dividend of C$0.07 per common share, to be paid on July 15, 2020 to shareholders of record at June 30, 2020. Consolidated Results Consolidated net sales in the first quarter of 2020 increased by 14.1% to $94,197 compared with the first quarter of 2019, due largely to the completion of the merger between the AirBoss defense business and Critical Solutions, Inc. (“CSI”) on January 1, 2020 (the “ADG transaction” or “AirBoss Defense Group transaction”). This increase was partially offset by …

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Cooper Tire & Rubber Company Declares 193rd Consecutive Quarterly Dividend

Cooper Tire & Rubber Company (NYSE: CTB) today announced a quarterly dividend of 10.5 cents per share on common stock, payable June 26, 2020 to stockholders of record at the close of business June 1, 2020. This will mark the 193rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.

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Goodyear Announces Pricing Of $600 Million Of Senior Notes

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AKRON, Ohio, May 13, 2020 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has priced its offering of $600 million aggregate principal amount of 5-year senior notes. The notes will be senior unsecured obligations of the company. The notes will be…

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Hankook Tire Announces 2020 Q1 Financial Results

Hankook Tire announced the company’s 2020 Q1 financial results, with consolidated global sales of KRW 1.4358 trillion and an operating profit of KRW 105.9 billion.

The company’s earnings have declined due to a sharp drop in tire demand, caused by the worldwide economic slowdown due to the COVID-19 pandemic. COVID-19 has had a large overall impact on major global markets, including a decrease in demand for original equipment tires and replacement tires.

Read the source article at Autosphere.ca