Levin Capital Strategies L.P. raised its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,253,989 shares of the company’s stock after acquiring an additional 4,122 shares during the period. Levin Capital Strategies L.P. owned approximately 0.52% of Goodyear Tire & Rubber worth $33,331,000 at the end of the most recent reporting period.
Findlay, Ohio – Cooper Tire & Rubber Co. suffered double-digit drops in operating and net income for the quarter ended 31 March 31, reflecting lower unit volume and costs associated with reduced manufacturing, the company said.
Operating income dropped 54.4% to $26.5 million on 6.5-percent lower sales of $601.5 million, cutting the operating margin nearly five%age points to 4.4%. Net income fell 72.9% to $8.29 million.
Goodyear, (GT.O), trading at $27.01, 7.3 times earnings, is benefiting from car makers’ shift toward trucks, for which tires are more profitable, and its earnings per share (EPS) is expected to rise at mid-teen percentages the next two years, the paper noted.
WORCESTER, Mass., April 23, 2018 (GLOBE NEWSWIRE) — Vystar Corporation (OTCPink:VYST) has acquired the assets of NHS Holdings, LLC (NHS) executing on the first part of the company’s vision to move into direct product offerings made from Vytex® latex. NHS was the exclusive U.S. distributor of Vystar’s Vytex® natural rubber latex foam to manufacturers for use in over 200 home furnishings products, including mattresses, toppers
In the wake of the announcement of the deal between Goodyear Tire & Rubber Co. and Bridgestone Americas Inc. to combine both tiremakers’ company-owned distribution networks into a new entity called TireHub, Tire Review sat down with TJ Higgins, president of Bridgestone’s North America Integrated Consumer Tire Group, to find out more about the joint venture, its impact on the replacement tire landscape and what tire dealers can expect.
BERWYN, Pa.—Positive 2017 results are leading executives with materials maker Trinseo to increase guidance for 2018.
Over the last year or so it has been broadly noted that the SUV/4×4 sector of the tyre market has been impressively resilient. Not just from the relatively local impact of the UK’s Brexit vote and resulting inflation and slump in certain motor vehicle sectors (in the UK at least). The tyre industry’s also been faced with escalating raw materials costs at a global level.
China’s Qingdao Doublestar Co. Ltd. has agreed to invest 646.3 billion won ($597.4 million USD) for a 45% stake in South Korea’s Kumho Tire Co. Inc, multiple news outlets reported at the beginning of March.
According to a statement filed with the Shenzhen stock exchange, China’s Qingdao Doublestar Co Ltd’s parent company will buy 129.3 million ordinary shares in Kumho Tire, becoming the controlling shareholder in the debt-ridden South Korean tire maker, Reuters reported.
Jiaozuo, China – Aeolus has terminated the acquisition of a 90% stake in Pirelli’s industrial tire unit Prometeon Tyre Group (PTG), the Chinese company announced 4 Jan.
The planned deal, priced at €215 million (1.7 billion yuan), also included a 70% stake in Guilin Beili Tire, another subsidiary of Aeolus’ parent group ChemChina Rubber Corp.
Aeolus’ shares on the Shanghai Stock Exchange have resumed trading.
Breaking up Continental is an old idea, but investors had begun to wonder if it would ever happen: even as suppliers such as Delphi Technologies and Autoliv announced they were doing the splits last year, the German behemoth didn’t budge. Now Continental is talking to advisers about a major overhaul, according to Bloomberg News. Those discussions could result in Continental creating separate listings for some of its businesses, possibly under a holding company.