Magna expects lower 2020 sales, ends Lyft partnership

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While Magna International Inc. anticipates growth to 2022 it does expect sales this year to fall compared with 2019 due to a variety of factors. In its , the Canadian auto supply giant said the stronger U.S. dollar, the sale of its fluid pressure and controls business and lower expected light vehicle production in Europe will all contribute to lower sales in 2020. The company says it expects total sales between $38 billion and $40 billion this year.

Read the source article at Front Page

Tire makers shuffle executive positions in 2019

Here are some of the top-level executive changes that occurred in the tire and automotive service industries during the past year:

Alliance Tire Americas Inc. 

  • Laurence Bennett hired as vice president of aftermarket sales…

Read the source article at Tire Business

Ivory Coast’s rubber output jumps 25% in 2019

Ivory Coast is Africa’s top natural rubber exporter and the seventh largest producer in the world. New plantations have proliferated as farmers switch from cocoa to rubber in search of more stable incomes.

Akpangni Attobra, APROMAC’s general secretary, told Reuters on Wednesday that output will keep rising and should reach 950,000 tonnes in 2021.

Read the source article at Stock Market Quotes and News

Global rubber demand to recover in 2020

KUALA LUMPUR, Malaysia — World demand for rubber is expected to grow 2.6% in 2020 after falling an estimated 1.5% last year from 2018, new figures from the International Rubber Study Group show.

Read the source article at Tire Business

Editorial: Tire makers end year riding winds of change

Change is that inevitable breeze that seems to stir up everything in its path.

And as a new year approaches, the winds of change often pick up gale-force strength.

Two of the world’s top three tire manufacturers announced changes recently that will affect business in 2020.

Read the source article at Tire Business

Paulo Ferrari to succeed retiring Gordon Knapp as Bridgestone Americas CEO

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TOYKO—Bridgestone is promoting Paulo Ferrari to president, CEO and chief operating officer of Bridgestone Americas Inc.

Read the source article at Rubber and Plastics News

Ishibashi to take over Bridgestone CEO role in 2020

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TOKYO — Bridgestone Corp. has promoted Shuichi Ishibashi — a 41-year company veteran who held senior executive roles at the company’s North American operations throughout the 1990s — to CEO, succeeding Masaaki Tsuya, who’s held that position since 2012.

Read the source article at Tire Business

Hera Kitwan Siu Elected to Goodyear Board

AKRON, Ohio, Dec. 9, 2019 – Hera Kitwan Siu, chief executive officer, Greater China, for Cisco Systems, Inc., has been elected to the board of directors of The Goodyear Tire & Rubber Company.

“We are pleased to welcome Hera Siu to the Goodyear Board of Directors,” said Goodyear Chairman, Chief Executive Officer and President Richard J. Kramer. “Hera is a dynamic and transformative leader who has spent her career breaking new ground, launching innovative go-to-market strategies and growing companies. As we continue to position Goodyear as a leader in the future of mobility, her extensive technology background and deep knowledge of the China marketplace will be extremely valuable to the company and its shareholders.”

Read the source article at Goodyear Corporate

BKT Approaches Business a Little Differently

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LAS VEGAS — It’s strikingly evident that Balkrishna Industries Ltd. (BKT) approaches business a little differently than most tire manufacturers.

Need a better quality of carbon black? No need to search the globe for a supplier. Build your own plant instead.

Hear concerns about a soft market for agriculture tires and other OTR products? No worries, invest heavily. …

Read the source article at Tire Business

ITRC moots exports curbs, again

The International Tripartite Rubber Council (ITRC) is planning another exports control to stabilise rubber prices, a Reuters report said. The council includes Thailand, Indonesia and Malaysia.

The ITRC said 2019 rubber production was expected to fall by 800,000 tonnes due to an outbreak of the Pestalotiopsis fungal disease, erratic weather conditions and sluggish tapping activities after a prolonged spell of low prices.

Read the source article at Rubber Asia