AKRON — Goodyear is pushing further into the fleet management business by agreeing to buy Ventech Systems G.m.b.H., a Germany-based developer of automated tire inspection technology under the trade name PneuScan.
AKRON —Status quo reigned over the 2017 global tire rankings, even as the estimated value of the entire industry declined for a third straight year.
AKRON — The world’s leading tire makers committed more than $7.3 billion in the past year toward new plants and capacity expansions, a measurable drop from record spending of $10 billion-plus in 2015-16 but still ahead of the annualized average for the past decade.
The investment sum was buoyed by nearly $3.3 billion in spending on acquisitions, deals that involved companies with collective annual sales of more than $2.5 billion — including Qingdao Doublestar Tire Co. Ltd.’s still-pending $830 million bid to buy what amounts to a controlling interest in South Korea’s Kumho Tire Co. Inc.
(Reuters) – Goodyear Tire & Rubber Co (GT.O), the largest U.S. tire maker, reported lower-than-expected quarterly sales as demand for tires weakened, and slashed its full-year forecast for tire unit sales and segment operating income.
Shares of the company fell as much as 13 percent to $31.00 in early trading on Friday, marking their biggest intraday percentage drop in nine months.
“Our second quarter results reflect the impact of volatile raw material costs and an increasingly challenging competitive environment, particularly in the United States and Europe,” Chief Executive Richard Kramer said on Friday.
Asia BD price drop… Nike sales… Clariant-Huntsman link-up… Michelin buys wine reviewer… Conti acquires… Eversafe Rubber… SKF sued ?… Firestone leak… UK down… Kumho limbo… Thai NR…
Yantai, China – Linglong Tyre has opened fully-owned new subsidiaries in Luxembourg City, Luxumbourg and Mexico City, Mexico, according to its announcement on June 30.
The two subsidiaries, named Linglong Luxembourg and Elite Faith Mexico, will engage in the import and export of tire and tire raw materials.
The subsidiaries are set up “as per Volkswagen’s request to build up Linglong’s overseas sales network to speed up the two companies’ cooperation,” said the statement.
TOKYO—Bridgestone is increasing prices of its winter tires for passenger cars and vans in Japan.
Before I headed out to Le Mans, someone told me that it’s the Oscars of racing. I had never been to the 24 hrs of Le Mans, but I’d had the opportunity to attend the 24 hrs of Nurburgring 5 times in the last 10 years. So in a way, I knew what to expect from the event. But little I did I know just how spectacular and different from Nurburgring it would turn out to be.
MILAN, Italy — Pirelli & Co. S.p.A. has launched a series of “value generating” programs that will include a brand-change project at Aeolus.
AKRON — As recently as 2013, the market for new consumer vehicles in the U.S. was split 50-50 between cars and light trucks. But low gasoline prices and new products have combined since then to spur increasing demand for bigger vehicles.