Sumitomo aims ‘to grow with whole of market’

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Tire Business talked with Darren Thomas, senior vice president of sales and marketing for Falken Tire Corp., a unit of Sumitomo Rubber North America Inc., about his thoughts on the tire industry and how his company is performing heading into the second half of the year.

 

Read the source article at Tire Business

Tire maker Michelin posts higher 2017 profits, warns of currency hit

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PARIS (Reuters) – French tire maker Michelin reported higher profits for 2017 while warning of a likely hit from foreign exchange movements.

Net income rose 1.6 percent last year to 1.693 billion euros (1.52 billion pounds), the company said on Monday. Analysts polled by Inquiry Financial for Reuters had given a median net income forecast of 1.67 billion euros.

Read the source article at Stock Market Quotes and News

Goodyear suffers double-digit earnings drops, Q4 net loss

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Akron, Ohio — Goodyear suffered double-digit drops in segment operating income for the quarter and fiscal year ended 31 Dec and reported a tax-reform-related net loss for the quarter.

Goodyear cited elevated raw materials costs and the “unfavourable” impact of reduced production volumes on costs for the operating earnings declines, and said the fourth quarter loss was driven by a $299 million (€244 million) one-time, non-cash tax charge related to US tax reform.

Read the source article at European Rubber Journal

Only one thing stops me buying Avon Rubber

All Avon Rubber (AVON) needs to do is not mess up, to prosper. It should make a good long-term investment. Perennially on my watchlist, I’ve decided to add Avon Rubber to the Decision Engine.

Read the source article at interactive investor

Can Ford Turn Itself Into a Tech Company?

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On a sunny afternoon in early October, I drove across a parking lot in Ann Arbor, Mich., and down a sloping road to a second, private lot. A fence lining the lot’s perimeter was covered in black fabric, as if to deter snoops. Behind it was a 32-acre Potemkin village. There were paved roads with names and signs: Liberty Street, Main Street, Wolverine Avenue. There was a traffic roundabout, a covered underpass and a railroad crossing.

Read the source article at The New York Times

Unique Fabricating, Inc. Reports Third Quarter 2017 Financial Results

AUBURN HILLS, Mich.Nov. 9, 2017 /PRNewswire/ — Unique Fabricating, Inc. (“Unique” or the “Company”)(NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced its financial results for the third quarter ended October 1, 2017.

 

Third Quarter 2017 Financial Highlights

  • Revenue of $41.2 million in the third quarter 2017, down 7.9% compared to $44.8 million in the third quarter 2016
  • Net income of $0.7 million, or $0.07 per basic and diluted share…

Read the source article at PR Newswire

Cooper Tire & Rubber Company : to Release Third Quarter 2017 Financial Results October 30

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Cooper Tire & Rubber Company (NYSE: CTB) will announce third quarter 2017 financial results before the U.S. stock markets open on Monday, Oct. 30, 2017. Management will discuss the financial results on a conference call beginning at 10 a.m. EDT that day. Individuals may access a live webcast of the conference call at http://coopertire.com/Investors.aspx or at http://services.choruscall.com/links/ctb171030.html .

Read the source article at Stock Market Quotes and News

Goodyear: Sales, income down in H1 2017

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Goodyear’s sales for the first six months of 2017 were $7.4 billion, down 2 per cent from the same period in 2016, reflecting lower tire unit volume, partially offset by improved price/mix. Goodyear’s year-to-date net income of $313 million ($1.23 per share) is down from $386 million ($1.43 per share) in H1 2016.

Read the source article at Rubber Asia

Michelin: Sales up 7.5% in H1 2017

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During the first half of the year, Michelin increased both sales and net income on the back of higher volumes. Net sales were up 7.5 per cent to 11.1 billion euros in the six months to 30 June, and while operating income declined 0.8 per cent year-on-year to 1.4 billion euros (with the margin down 1.1 per cent to 12.6 per cent), the tyre maker described this result as “stable and in line with the Group’s roadmap.” Net income rose 12.2 per cent to 863 million euros.

Read the source article at Tyrepress

BASF posts good Q2 2017 figures

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BASF registered considerable revenue growth in the April-June second quarter of 2017. Sales rose by 12 per cent to €16.3 billion compared to Q2 2016. This was mainly due to higher prices and volumes. Amid higher raw material costs, the company raised sales prices by 7 per cent; this was mainly driven by higher prices in the chemicals segment. Sales volumes increased by three per cent.

Read the source article at Rubber Asia