Goodyear, Bridgestone continue building TireHub joint venture

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ATLANTA — Combining two legacy brands, such as Goodyear and Bridgestone, into a cohesive joint operation is a challenge that requires collaboration and logistics.

Read the source article at Tire Business

Kumho delisting from London Stock Exchange

South Korea’s second-largest tyre manufacturer, after Hankook Tire, said the reason for delisting its 76,034 shares traded on the LSE was to cut costs as financial losses continued to accumulate last year. The move would leave Seoul as the only market where its shares will be openly traded.

Kumho reported an operating loss of KRW89.9 billion (US$79 million) in 2018, with the fourth quarter marking the eighth consecutive quarter of financial losses for the company. Weak performance in the replacement market was given as the main reason for the losses.

Read the source article at Tyrepress

Michelin shares surge after tyre maker pledges higher profits in 2019

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Shares in Michelin, which also reported better-than-expected results for 2018 late on Monday, were up 7.5 percent in early session trading. The stock was the best performer on France’s benchmark CAC-40 index.

“Michelin is able to sustain premium price points, while concurrently gaining market share – this is the perfect recipe for earnings growth,” analysts at Citigroup wrote in a note, keeping a “buy” rating on Michelin shares.

Read the source article at Stock Market Quotes and News

Continental Ag: A Speculative Buy – Continental Ag (OTCMKTS:CTTAF)

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Continental AG (OTCPK:CTTAF) is a high-quality German automotive manufacturing company specializing in tires and non-tire rubber products, auto parts, and future automotive technologies like autonomous driving and electric vehicle ecosystems. A confluence of factors, involving tariff threats from Trump, a cyclical slowdown in China, and production bottlenecks from EU emission regulations, has caused the stock to fall by almost 50%. The stock is now very cheap compared to its trading history, but the U.S. tariff threat looms large on the horizon. This article makes the argument for a speculative buy, where large gains could be made if U.S. tariffs don’t eventuate.

 

Read the source article at Stock Market Insights

LANXESS to buy back shares and strengthen pension assets

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The Board of Management of specialty chemicals company LANXESS decided to make use of the authorization granted by the stockholders’ meeting on May 20, 2016 and to acquire own shares of up to EUR 200 million (excluding incidental costs) via the stock exchange. On the basis of the current share price (status: January 9, 2019), this would amount to around 4.9% of the share capital and would correspond to a number of approximately 4.5 million own shares, LANXESS says in a Press release.

Read the source article at Rubber Asia

Here’s Why Goodyear Tire & Rubber Fell 11.9% in December

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Shares of Goodyear Tire & Rubber (NASDAQ: GT) fell nearly 12% last month, according to data from S&P Global Market Intelligence . The global tire manufacturer owns a portfolio of 47 manufacturing facilities in 21 countries, but that planet-spanning diversification has turned into more of a liability in recent years.

Read the source article at finance.yahoo.com

Russian investment group seeks to exit Voltyre venture with Titan

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QUINCY, Ill.—An affiliate of Russian Direct Investment Fund, one of three shareholders of Voltyre-Prom, has notified Titan International it is exercising a put option on its share in the Russian tire maker, which could be worth up to $76.2 million.

Read the source article at Rubber and Plastics News

Nokian Tyres: Financial targets aim for faster growth in Europe, North America

The Board of Directors at Nokian Tyres has set new financial targets for 2019-2021. These targets include faster than market growth of more than five per cent CAGR, EBIT at 22 per cent and a shareholders’ dividend of more than 50 per cent of net earnings. Nokian says the financial targets will guide the company in reaching the strategic ambitions it set in early 2018, which include increasing sales by 50 per cent in Central Europe and doubling them in North America within the next five years.

Read the source article at Tyrepress

Goodyear Reports 3rd Quarter 2018 Results

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The Goodyear Tire & Rubber Co. has reported results for the third quarter of 2018.

“We continued to improve the operating performance in our key mature markets, driven by strong volume growth, including significant increases in the more profitable 17-inch-and-greater rim sizes in the U.S. and Europe,” said Richard Kramer, chairman, CEO and president.

Read the source article at Aftermarket News

Tyre maker Nokian profit hit by Russia, Norway issues, emissions rules

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Nokian shares tumbled 14 percent on the latest warning from the automotive industry after a string of trimmed forecasts and weak results from Michelin, Continental and Daimler.

Nokian, which has a large plant in Russia and a smaller one in Finland, said 2018 sales and operating profit were now expected to be flat or slightly higher than 2017, compared with a previous forecast of growing sales and profit.

Read the source article at Stock Market Quotes and News