1. Articles in category: Executive News

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    1. Cooper Tire & Rubber Company Reports Fourth Quarter and Full Year 2020 Results

      Mon., February 22, 2021, 7:04 a.m.·22 min read
       

      Cooper Tire & Rubber Company (NYSE: CTB) today reported full year 2020 net income of $143 million, or diluted earnings per share of $2.83, compared with net income of $96 million, or $1.91 diluted earnings per share, for the prior year.

      Full Year 2020 Highlights

      • Global unit volume decreased 13.0 percent compared to the prior year.

      • Net sales were $2.52 billion compared to $2.75 billion the prior year.

      • Operating profit was $231 million, or 9.2 percent of net sales, compared to $174 million, or 6.3 percent of net sales, in 2019.

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    2. Goodyear to Acquire Cooper Tire

      Goodyear Tire & Rubber Co will acquire Cooper Tire & Rubber Company for approximately $2.8 billion to double its presence in North America and China. Goodyear said the deal also broadens the distribution for Cooper replacement tires through its retail store network.

      Under the terms of the deal, Cooper shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear common stock. The implied cash and stock consideration for Cooper shareholders is $54.36 per share, representing a premium of 24% to its closing price on February 19.

      Watch a message from Goodyear Chairman, Chief Executive Officer and President Rich Kramer

      Download Fact Sheet

      Source: Goodyear

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    3. Yokohama Shares Development Vision for Passenger Car Tire Sensors

      Tokyo—The Yokohama Rubber Co., Ltd., announced today the SensorTire Technology Vision medium- and long-term technological development vision for passenger car tire sensors.

      The aim of the SensorTire Technology Vision is to support mobility for people from the ground up and contribute to lasting safety and peace of mind while addressing new changes in mobility demand by providing data obtained from SensorTires (Internet of Things [IoT] tires) fitted with sensing functionality to drivers and to diverse external enterprise operators.

      Yokohama Rubber will categorize the services to be provided in reference to specific sensing functions and real-time performance. The company will build in stages sensing functions and data analysis and prediction technology suited to each service, and it will broaden the range of applicability of the sensing functions. An air-pressure alert service for individual vehicle owners and for vehicle operation management companies will be the initial trial, and a tread wear ...

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    4. Trelleborg: Interim report and Year-end report 2020

      "Strong end to the year – toward a better 2021"

      “Like most companies in 2020, Trelleborg was impacted to a high degree by the ongoing pandemic. Priority was assigned to measures to protect our personnel, while we succeeded in offsetting the reduction in sales through a flexible cost base and structural improvements. Despite the circumstances, we were able to deliver a good result, with an improved operating margin and record-strong cash flow compared with 2019, for both the full year and the fourth quarter.

      Our employees at all levels of the Group have made the best of a difficult situation and we have adapted our operations and way of working in line with the new reality in an exemplary fashion. Our decentralized approach enabled rapid operational action throughout the organization.

      We closed 2020 with a strong quarter. Organic sales declined by 3 percent, meaning that demand continued to improve sequentially. We ...

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    5. BKT Obtains ISO/IEC 17025:2017 Certification

      Seregno (Italy), February 15, 2021 – The specialist Off-Highway tire Group, BKT, has obtained ISO/IEC 17025:2017 certification. 

      This recognition certifies the work of the laboratory located in the Bhuj plant, as regards tire testing and calibration. 

      The certification was recently awarded by NABL, the Indian body which regulates the accreditation of test and calibration laboratories. It is a member of the international bodies in the sector – i.e. the International Laboratory Accreditation Co-operation (ILAC) and the Asia Pacific Accreditation Co-operation (APAC) - and it follows their standards and criteria. 

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    6. Toyo Posts Sales, Income Losses for 2020

      Toyo Tire Corp. posted net sales and operating income losses during 2020. The company's sales declined 8.9% from 2019 levels and its operating income fell 5.5% versus the previous year.

      Specifically, Toyo's tire business unit experienced a decline of 7.9% in sales versus 2019 levels. (The company also has an automotive parts business unit, which suffered a decline in sales during 2020, as well.)

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    7. Michelin CFO sees two major changes post-Covid: More durable materials and electrification

      Yves Chapot, chief financial officer at Michelin, discusses the company's full-year 2020 results.

      Against the backdrop of a global pandemic, the Group reported sales of €20 billion, down 15%, and segment operating income of €1.9 billion, representing 9.2% of sales.

      Watch the Video at MSN Canada.

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    8. Bridgestone FY2020: First net loss in 7 decades

      The corona crisis has left its mark on Bridgestone Corporation, with the Japanese firm reporting for the 2020 fiscal year its first net loss in 69 years, a loss of 23.3 billion yen (£159.2 million). The operating result also fell significantly: While revenue decreased 14.6 per cent to 3.0 trillion yen (£20.5 billion), adjusted operating profit plummeted 35.0 per cent to 222.9 billion yen (£1.5 billion), representing a 7.4 per cent return on sales.

       

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    9. LafargeHolcim to acquire Firestone Building Products from Bridgestone Americas

      LafargeHolcim has signed an agreement to acquire Firestone Building Products (FSBP), a leader in commercial roofing and building envelope solutions based in the United States (US), with 2020 (est.) net sales of USD 1.8 billion and EBITDA of USD 270 million. This acquisition is a milestone in LafargeHolcim's transformation to become the global leader in innovative and sustainable building solutions.

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    10. Cabot (CBT) Surpasses Earnings and Revenue Estimates in Q1

      Cabot Corporation CBT recorded a profit of $60 million or $1.06 per share in the first quarter of fiscal 2021 (ended Dec 31, 2020) compared with a profit of $41 million or 70 cents per share in the year-ago quarter.

      Barring one-time items, adjusted earnings per share were $1.18 in the reported quarter, up from 69 cents in the year-ago quarter. The figure topped the Zacks Consensus Estimate of 87 cents.

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      Mentions: Cabot financial
    11. Looking Forward, Looking Back

      Reflecting TRAC’s Accomplishments while Stepping into the New Year

      A new year is a time for many to make resolutions, both personal and professional. It’s also time to reflect, for as they say, you often need to look back to look forward. Which brings me to a particularly noteworthy subject. TRAC celebrated its 100th Anniversary in 2020 and as part of his enduring legacy, previous President & CEO of TRAC, Glenn Maidment (along with our dedicated team) created a special 100th Anniversary book commemorating the association’s past century.

      Some interesting milestones include the following:

      1920s: Letters Patent officially incorporating The Rubber Association of Canada (RAC) were received on March 17, 1920. There were 16 founding member companies, including three brands that remain in the marketplace today: Dunlop, Firestone, and Goodyear. ...

       

       

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    12. On Course for Growth: Continental Restructures Management of Specialty Tyres Business Unit

      Continental has changed its management in the “Specialty Tyres” business unit as of January 1: Wolfgang Thomale, head of the entire Specialty Tyres business unit, is also responsible for the associated Two-Wheel Tyres segment. This was previously under the management of Thomas Falke. Falke, who will now be responsible for the Commercial Specialty Tyres segment, which Thomale had led since summer 2020.

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    13. BFGoodrich® Named Official Sponsor of World Off Road Championship Series

      GREENVILLE, S.C.Jan. 27, 2021 /PRNewswire/ -- BFGoodrich® Tires announced a partnership with World Off Road Championship Series (WORCS) to support racers who compete with the BFGoodrich® Mud-Terrain T/A® KM3 UTV tire. Participants will have access to onsite support and tire sales through Rocky Mountain ATV/MC.

      "We are excited to have BFGoodrich as part of the WORCS sponsor family, and look forward to a long-lasting relationship for years to come," said Randy Perry, owner of WORCS. "This is a tremendous opportunity to promote the UTV tires with the fastest off-road racers."

       

       
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    14. Goodyear and Conmet to offer fleets the commercial tire industry’s first combined tire and wheel hub analytics solution

      The Goodyear Tire & Rubber Company and ConMet announced their strategic collaboration to create combined digital solutions that will better connect commercial truck fleets to the health of their tires and wheel ends.

      For the first time in the industry, two companies will use their combined expertise in connected mobility and their existing data resources to provide fleets with holistic insights on tire and wheel end performance. The goal is to allow fleets to remotely monitor their vehicles in real time, automate insights and make better maintenance decisions in order to improve vehicle safety, as well as maximize efficiency and uptime.

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      Mentions: Goodyear wheel truck
    15. BKT Launches BKT Carbon Website

      BKT Carbon, subsidiary of BKT Tires, launched a new website dedicated to BKT Carbon. BKT Carbon manufactures and sells carbon black worldwide, and provides partners with the right product for superior performance in any application. Discover carbon black though a journey covering technology, research and development, and customization with a special commitment to sustainability at www.bkt-carbon.com.
       
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    16. USITC Makes Determinations Concerning Passenger P/LT Tires from China

      The U.S. International Trade Commission (USITC) today determined that revoking the existing antidumping and countervailing duty orders on imports of passenger vehicle and light truck tires from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. 

      As a result of the Commission’s affirmative determinations, the existing orders on imports of these products from China will remain in place. 

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    17. Goodyear tire development program aided by second dynamic simulator

      Goodyear is to install a second DiM250 Dynamic Driving Simulator, supplied by VI-Grade, at its Innovation Center in Colmar-Berg, Luxembourg.

      Goodyear will use the simulator in conjunction with another DiM250 recently installed at the company headquarters in Ohio, USA. Both innovation sites also have previously installed VI-Grade Compact Simulators to assist with virtual tire development.

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    18. Nokian Tyres to Add 150 Jobs at Tennessee Factory

      DAYTON, TENN. (AP) — Nokian Tyres says it plans to add 150 jobs in the first half of this year at its Tennessee factory.

      The Finland-based company says that it is looking for workers at its Dayton facility in mixing, tire production, maintenance and logistics areas, and those interested in general factory overhead and quality control.

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    19. Air France selected Michelin as the exclusive tire supplier for its aircraft fleet

      Air France has renewed its trust in Michelin and has selected the French group as the exclusive tyre supplier for its aircraft fleet. The Michelin Group will equip the company's short-, medium- and long-haul aircrafT (1) with new or retreaded tyres notably produced at the Saint Doulchard plant in Bourges, France.

      Air France's aircraft will be equipped with the most modern aircraft tyres, such as Radial Michelin® AIR X tyres incorporating NZG (Near Zero Growth) technology. Designed to guarantee a constant tyre diametre, this technology provides aircraft tyres with greater durability and exceptional resistance.

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    20. Rolling with the changes: Bridgestone Americas' CEO on leadership now

      Ferrari joined the tiremaker in January 2020. Within weeks, he found himself having to navigate a new job and firm amid a rapidly escalating global pandemic. What helped, the 50-year-old Ferrari said, was keeping his eyes on the rest of the world. "I have immediate family in Milan and Turin and those parts of Italy were the biggest first clusters after China, so I immediately knew how severe this was," said Ferrari, who is based in Nashville, Tennessee.

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    21. Bridgestone opens $48m distribution centre in eastern Canada

      Tyre maker Bridgestone has opened a distribution warehouse in Ancaster, Ontario, which it said it will better serve the market in eastern Canada. The facility, which represents an investment of CAN$65m ($48m), has a storage capacity of 570,000 tyres and will reduce transport costs and shorten delivery times, according to the Bridgestone.

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