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

curata__SGDVyHmJ4uJVvYa.jpeg

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

curata__xFFg9Igj2vt0zyy.png

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

curata__JJAa9EBq4BXTDWj.jpeg

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

Kraton Corporation Announces Fourth Quarter and Full Year 2016 Results

curata__fVHb4Z5WfrcRajd.gif

HOUSTON, Feb. 27, 2017 /PRNewswire/ — Kraton Corporation (NYSE: KRA), a leading global producer of styrenic block copolymers, specialty polymers and high-value performance products derived from pine wood pulping co-products, announces financial results for the quarter and year ended December 31, 2016. 2016

FOURTH QUARTER AND FULL YEAR SUMMARY Exceeded the previously announced target for integration synergies, delivering $37 million of the $65 million total synergies expected by 2018.

Read the source article at cnbc.com

Korean Hankook – Cheap Stock And Plans To Grow Revenues 15% In 2017 | Top Stocks For 2017

curata__8wURxBKs14cvOGN.png

Hankook (OTC:HAOOF), the Korean tire manufacturer, is very profitable and stealing market share from competitors. The stock is cheap and the company wants to grow 15% in 2017.

The stock trades at 57,300 won, there are 123.85 million shares, and the market cap is 7.1 trillion won ($6.1 billion). It takes 1151 won to buy one dollar. The stock pays a 400 won dividend and yields 0.7%. Earnings per share last year was 2,844 won and the price to earnings ratio was 20.

Read the source article at Top Stocks For 2017

Cooper Standard Appoints Conrad Vice President, Financial Planning and Analysis

curata__SGDVyHmJ4uJVvYa.jpeg

NOVI, Mich.Feb. 28, 2017 /PRNewswire/ — Cooper Standard (NYSE: CPS) today announced the appointment of Linda Conrad to vice president, financial planning and analysis (FP&A). Based at the Company’s headquarters in Novi, Mich., she reports to Matthew W. Hardt, executive vice president and chief financial officer (CFO), and is responsible for aligning the Company’s FP&A processes with Cooper Standard’s Profitable Growth Strategy. 

“Linda has been an integral part of helping Cooper Standard make significant strides in the installation of a world-class FP&A organization,” said Hardt. “Her passion and commitment to excellence will continue to drive further improvements.” 

Read the source article at PR Newswire

February 27, 2017 Weekly Legislative Update

curata__zwnGbPZjrf34vj7.jpeg

At the OTR Conference, during our discussion on tax reform, we went into the “border adjustability” provisions set forth in the House Blueprint Tax Reform package.  As you probably know, these provisions are quite controversial.  Under this proposal, exports would not be subject to corporate tax while imports would be subject to tax.  It is intended to promote US manufacturing.

This provision has pitted companies that primarily export (for instance, Boeing and Caterpillar), which are obviously in favor of it, against companies that import (for instance, Walmart, Target, Best Buy, most retailers, your local gas station), that believe not only would the provision be detrimental to them but also to the consumer.  Companies that oppose the proposal are stressing that costs of producing their goods will go up by 20% and that they would have to pass the cost on to the consumer. 

Read the source article at TIRE INDUSTRY ASSOCIATION

Strong yen brings down Bridgestone 2016 results

curata__lNNij1vZDbVzPPi.jpeg

Tokyo – Bridgestone Corp. has posted a sharp drop in earnings and revenue for 2016, as the Japanese yen gained strength and the cost of raw materials grew.

In its full-year financial statement on 17 Feb, the tire maker said its sales dropped 12% year-on-year to Yen3.3 trillion (€27.5 billion), with sales of tires showing a 13% decline to Yen2.7 trillion.

Bridgestone also registered an 8% decline in sales of diversified products to Yen585 billion.

Read the source article at European Rubber Journal

Canada well-positioned to revamp NAFTA

curata__UEpngHtUXrEf93e.jpeg

TORONTO — Ontario Minister of Economic Development Brad Duguid said Canada is “fortunate” to begin a NAFTA dialogue with the Trump administration “from a position of absolute strength.” Over the first three quarters of 2016, Ontario’s real GDP growth has outpaced that of Canada’s and all other G7 countries. The province’s unemployment rate is also at its lowest in eight years, Duguid said.

Read the source article at Front Page