Current Issue
×

Top Stories

Title Issue Date Category Formats Records Price
NAM honors U.S. senator for his support of manufacturing
View Description View Full Details
AKRON—The National Association of Manufacturers recognized U.S. Sen. Rob Portman, R-OH, with the NAM Award for Manufacturing Legislative Excellence, which was presented during an ceremony at ...
View Full Details »
AKRON—The National Association of Manufacturers recognized U.S. Sen. Rob Portman, R-OH, with the NAM Award for Manufacturing Legislative Excellence. AKRON—The National Association of Manufacturers recognized U.S. Sen. Rob Portman, R-OH, with the NAM Award for Manufacturing Legislative Excellence. $AKRON—The National Association of Manufacturers recognized U.S. Sen. Rob Portman, R-OH, with the NAM Award for Manufacturing Legislative Excellence.
Cheng Shin set to open two tire plants
View Description View Full Details
CHUNGHWA, Taiwan — Cheng Shin Rubber Industrial Co. Ltd.'s new plants in India and Indonesia will start production this year, the Taiwanese tire maker disclosed at its recent investor...
View Full Details »
CHUNGHWA, Taiwan—Cheng Shin, which goes to market under the Maxxis brand, is ready to start up its new plants in India and Indonesia. CHUNGHWA, Taiwan—Cheng Shin, which goes to market under the Maxxis brand, is ready to start up its new plants in India and Indonesia. $CHUNGHWA, Taiwan—Cheng Shin, which goes to market under the Maxxis brand, is ready to start up its new plants in India and Indonesia.
USW files complaint regarding China truck, bus tire decision
View Description View Full Details
WASHINGTON—The United Steelworkers has filed a complaint with the U.S. Court of International Trade seeking judicial review of the U.S. International Trade Commission's recent negative...
View Full Details »
WASHINGTON—The United Steelworkers has filed a complaint with the U.S. Court of International Trade seeking judicial review of the U.S. International Trade Commission's recent negative determination in the ITC's investigation of truck and bus tires from China. WASHINGTON—The United Steelworkers has filed a complaint with the U.S. Court of International Trade seeking judicial review of the U.S. International Trade Commission's recent negative determination in the ITC's investigation of truck and bus tires from China. $WASHINGTON—The United Steelworkers has filed a complaint with the U.S. Court of International Trade seeking judicial review of the U.S. International Trade Commission's recent negative determination in the ITC's investigation of truck and bus tires from China.
Apollo celebrates milestone event
View Description View Full Details
GYONGYOSHALASZ, Hungary—In a country filled with relics and buildings that date back several centuries, one of the world's most technologically advanced and environmentally efficient...
View Full Details »
GYONGYOSHALASZ, Hungary—Now that Apollo has christened its newest tire plant in Gyongyoshalasz, it can turn its attention to bolstering its presence in the North American market, specifically the U.S. and Canada. GYONGYOSHALASZ, Hungary—Now that Apollo has christened its newest tire plant in Gyongyoshalasz, it can turn its attention to bolstering its presence in the North American market, specifically the U.S. and Canada. $GYONGYOSHALASZ, Hungary—Now that Apollo has christened its newest tire plant in Gyongyoshalasz, it can turn its attention to bolstering its presence in the North American market, specifically the U.S. and Canada.
Photo Gallery: Bridgestone celebrates re-opening of Akron Data Center
View Description View Full Details
AKRON, Ohio—Bridgestone celebrated the grand re-opening of its Akron Data Center April 18 with a special ribbon cutting ceremony. The $17.3 million renovation project, which began in July...
View Full Details »
AKRON, Ohio—Bridgestone celebrated the grand re-opening of its Akron Data Center April 18 with a special ribbon cutting ceremony. AKRON, Ohio—Bridgestone celebrated the grand re-opening of its Akron Data Center April 18 with a special ribbon cutting ceremony. $AKRON, Ohio—Bridgestone celebrated the grand re-opening of its Akron Data Center April 18 with a special ribbon cutting ceremony.
Bridgestone develops airless bicycle tires
View Description View Full Details
TOKYO—Bridgestone Corp., together with Bridgestone Cycle Co., Ltd., has developed an airless bicycle tire as part of its "air free concept" technology, the Japanese tire-maker announced...
View Full Details »
TOKYO—Bridgestone, in partnership with Bridgestone Cycle, has developed an airless bicycle tire as part of its "air free concept" technology. TOKYO—Bridgestone, in partnership with Bridgestone Cycle, has developed an airless bicycle tire as part of its "air free concept" technology. $TOKYO—Bridgestone, in partnership with Bridgestone Cycle, has developed an airless bicycle tire as part of its "air free concept" technology.
East West halts operations at historic rubber facility
View Description View Full Details
BATON ROUGE, La.—A 74-year history of synthetic rubber manufacturing at the same facility has just ended with the closing and bankruptcy of East West Copolymer L.L.C. The East West plant in ...
View Full Details »
BATON ROUGE, La.—The East West Copolymer plant in Baton Rouge ceased operations March 31. BATON ROUGE, La.—The East West Copolymer plant in Baton Rouge ceased operations March 31. $BATON ROUGE, La.—The East West Copolymer plant in Baton Rouge ceased operations March 31.
Aeolus seeks to raise $840 million for Pirelli deal
View Description View Full Details
JIAOZUO, China—China's Aeolus Tyre Co. Ltd. is seeking to raise $840 million through a public share offering to cover the cost of acquiring a 90 percent stake in Prometeon Tyre...
View Full Details »
JIAOZUO, China—Aeolus is seeking to raise $840 million through a public share offering to cover the cost of acquiring a 90 percent stake in Prometeon Tyre Group—Pirelli's commercial tire unit—and other industrial tire assets. JIAOZUO, China—Aeolus is seeking to raise $840 million through a public share offering to cover the cost of acquiring a 90 percent stake in Prometeon Tyre Group—Pirelli's commercial tire unit—and other industrial tire assets. $JIAOZUO, China—Aeolus is seeking to raise $840 million through a public share offering to cover the cost of acquiring a 90 percent stake in Prometeon Tyre Group—Pirelli's commercial tire unit—and other industrial tire assets.
Editorial: Synthetic rubber suppliers face a crude hard truth
View Description View Full Details
When crude prices go up, everything goes up. This observation—by Yuka Kimoto, director of marketing for Lion Elastomers—is the accepted wisdom in the synthetic rubber market, and with ...
View Full Details »
Considering oil prices alone, there is no reason to believe that feedstock prices—and, with them, SR prices—are coming down any time soon. However, according to authoritative sources, butadiene prices are starting to fall. Considering oil prices alone, there is no reason to believe that feedstock prices—and, with them, SR prices—are coming down any time soon. However, according to authoritative sources, butadiene prices are starting to fall. $Considering oil prices alone, there is no reason to believe that feedstock prices—and, with them, SR prices—are coming down any time soon. However, according to authoritative sources, butadiene prices are starting to fall.
Mining industry looks to dig out of slump in 2017
View Description View Full Details
The mining industry is having a difficult time digging itself out of a multi-year slump, but this year's outlook, while still sluggish, is expected to be an improvement compared to 2016, according ...
View Full Details »
The mining industry is having a difficult time digging itself out of a multi-year slump, but this year's outlook, while still sluggish, is expected to be an improvement compared to 2016, according to industry observers. The mining industry is having a difficult time digging itself out of a multi-year slump, but this year's outlook, while still sluggish, is expected to be an improvement compared to 2016, according to industry observers. $The mining industry is having a difficult time digging itself out of a multi-year slump, but this year's outlook, while still sluggish, is expected to be an improvement compared to 2016, according to industry observers.
Digital Edition
Digital Edition
Published on September 9, 2002

Michelin takes over tire sales leadership

Have a question? Need some help?
Click here to view the FAQ

Tags

Date Published September 9, 2002
Category

Groupe Michelin, via organic growth and despite unfavorable currency swings, edged back to the top of the ranking of the world's tire makers last year, posting 2001 tire sales of $13.4 billion, 1.7 percent better than in 2000.

Michelin's gains coincided with lower sales by Bridgestone Corp., the leader of Rubber & Plastics News' ranking of global tire makers the past two years. Bridgestone's well-publicized problems in North America left sales by the Bridgestone/Firestone companies in the Americas 4.4 percent behind 2000, holding down Bridgestone's global tire sales to $13 billion, or 5.8 percent below the previous year when expressed in dollars.

Michelin added about $100 million in new revenues to 2001 sales through two moves the previous year-the creation of Michelin Shanghai Warrior Tire Co. Ltd. in China and the purchase of two tire plants and retreading and retail assets in Romania from Tofan Grup. These actions helped offset a decline in the euro-dollar exchange rate.

No. 3 Goodyear also reported lower tire sales last year vs. 2000, down 2 percent to $12.5 billion. That occurred despite the extra sales volume generated in North America by Ford Motor Co.'s recall of 13 million Firestone tires.

Goodyear's unit sales fell 1.8 percent to 219.3 million, but internally the company claims this still makes it the largest tire maker in the world on a unit basis.

Assuming this is correct, Goodyear trails Michelin and Bridgestone in revenue per unit. The company addressed the situation in 2001 by maintaining a hard line on price increases and declaring it will walk away from original equipment business that isn't profitable.

No. 4 Continental A.G.'s sales declined, as the German company shifted production from high-cost locations in Western Europe to lower-cost sites in Eastern Europe. In late 2000 and throughout 2001, the company closed tire plants in Austria, Belgium, Mexico and Sweden and sold its NTS tire retailing operation in Great Britain.

No. 5 Sumitomo Rubber Industries Ltd. fell into the red last year, although corporate sales increased 2.6 percent and operating income declined only about 11 percent. To help the company return to the black, Sumitomo President Misuaki Asai told shareholders the firm hopes to generate more than $55 million in profits by cutting manufacturing costs, personnel, capital investments and other expenses.

Sumitomo said its global purchasing alliance with Goodyear yielded nearly $50 million in cost savings vs. 1999. It expects further benefits this year as the firm's Ohtsu Tire & Rubber Co. Ltd. subsidiary gains from the deal for the first time. Sumitomo also plans to set up production in China and expand its penetration into Southeast Asia with increased manufacturing in Indonesia and new sales companies.

From a profitability standpoint, Hankook Tire Co. Ltd. topped the charts. The South Korean company reported operating and net earnings ratios of 8.5 and 2.1 percent, respectively, nosing out Michelin (6.6 and 2 percent) for the honors.

Four of the 11 tire makers with more than $1 billion in annual sales were in the red last year-Goodyear with a $203.6 million net loss, Continental ($231.2 million), Sumitomo ($59.3 million) and Kumho Industrial Co. Ltd. ($223.9 million). Only Yokohama Rubber Co. Ltd. and Hankook improved their earnings in 2001 over 2000.

Collectively, these 11 companies compiled a loss of $90.5 million for the year, compared with earnings of $827.5 million in 2000.

Reflecting the global economy during 2001, sales by nearly two-thirds of the world's 75 leading tire makers either fell or were unchanged last year-including eight of the top 10. The overall estimated value of the global tire industry's sales fell 1.8 percent in 2001 to $68.5 billion.

Together, the Big Three tire makers accounted for $38.8 billion, or 56.5 percent of the global total, and the 10 largest combined generated $55.3 billion in sales, or 80.8 percent of the total. These totals essentially are unchanged from a year ago.

The makeup of the Top 75 was stable compared with last year, with only three new faces-China's Qingdao Huaquing Tyre Industry Co. Ltd. (No. 28), Russia's Kirov Tyre Co. (No. 66) and Malaysia's Silverstone Tyre & Rubber Co. Sdn. Bhd. Ltd. (No. 68). Dropping from the list are China's Beijing Tyre Factory, Jiangxi Tyres and Liaoning Tyres Group Co. Ltd. Additionally, No. 21 Grandtour Tire (Anhui) Co. Ltd. is the new name for Anhui Jia'an Tire Co. Ltd.

China leads the way in terms of national origin, with 14 companies on the list, the largest of which-Shandong Triangle Group Co. Ltd. and Shandong Chengshan Tire Co. Ltd.-have moved up to 12th and 13th on the list, passing India's MRF Ltd. and Taiwan's Cheng Shin Rubber Industry Co. Ltd.

India follows with eight companies, then the U.S. with seven, and Japan, Russia and Taiwan with five each. South Korea and Malaysia have three each, while Iran, Italy and Ukraine have two each, and 19 other countries have one representative each.

ERROR: Object template cce_CCI_SITE is missing!