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Changed vote makes difference in ITC decision
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WASHINGTON—The shift of one vote caused the International Trade Commission to make a final determination that the U.S. truck and bus tire manufacturing industry is not being materially...
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WASHINGTON—The shift of one vote caused the International Trade Commission to make a final determination that the U.S. truck and bus tire manufacturing industry is not being materially injured because of imports from China. WASHINGTON—The shift of one vote caused the International Trade Commission to make a final determination that the U.S. truck and bus tire manufacturing industry is not being materially injured because of imports from China. $WASHINGTON—The shift of one vote caused the International Trade Commission to make a final determination that the U.S. truck and bus tire manufacturing industry is not being materially injured because of imports from China.
Goodyear, Cooper Tire employees honored with STEP Ahead awards
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AKRON—The Manufacturing Institute will honor five women who work for Goodyear and Cooper Tire & Rubber Co. at its upcoming Women in Manufacturing STEP (Science, Technology, Engineering...
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AKRON—The Manufacturing Institute will honor five women who work for Goodyear and Cooper at its upcoming Women in Manufacturing STEP (Science, Technology, Engineering and Production) Ahead Awards. AKRON—The Manufacturing Institute will honor five women who work for Goodyear and Cooper at its upcoming Women in Manufacturing STEP (Science, Technology, Engineering and Production) Ahead Awards. $AKRON—The Manufacturing Institute will honor five women who work for Goodyear and Cooper at its upcoming Women in Manufacturing STEP (Science, Technology, Engineering and Production) Ahead Awards.
James Walker to unveil new elastomer family
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CHESHIRE, England—A sealing products manufacturer from the United Kingdom is ready to release a new family of elastomers it will use in its goods to meet the ever-increasing demands of the...
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CHESHIRE, England—A sealing products manufacturer from the United Kingdom is ready to release a new family of elastomers it will use in its goods to meet the ever-increasing demands of the oil and gas industry. CHESHIRE, England—A sealing products manufacturer from the United Kingdom is ready to release a new family of elastomers it will use in its goods to meet the ever-increasing demands of the oil and gas industry. $CHESHIRE, England—A sealing products manufacturer from the United Kingdom is ready to release a new family of elastomers it will use in its goods to meet the ever-increasing demands of the oil and gas industry.
Oil and gas market looking up, but profits hard to come by
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WASHINGTON—This year will be better than 2016 for the oil and gas industry and the rubber and polymer product manufacturers that supply them, according to industry officials and experts....
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WASHINGTON—This year will be better than 2016 for the oil and gas industry and the rubber and polymer product manufacturers that supply them, according to industry officials and experts. WASHINGTON—This year will be better than 2016 for the oil and gas industry and the rubber and polymer product manufacturers that supply them, according to industry officials and experts. $WASHINGTON—This year will be better than 2016 for the oil and gas industry and the rubber and polymer product manufacturers that supply them, according to industry officials and experts.
China slides to No. 2 tire trading partner
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AKRON—Canada replaced China last year as the No. 1 trading partner of the U.S. in tires. The value of China's imports to the U.S.—impacted primarily by the cut in consumer tire...
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AKRON—Canada replaced China last year as the No. 1 trading partner of the U.S. in tires. AKRON—Canada replaced China last year as the No. 1 trading partner of the U.S. in tires. $AKRON—Canada replaced China last year as the No. 1 trading partner of the U.S. in tires.
ITC antidumping decision brings mixed reactions
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As with any decision regarding imported tires and tariffs and duties, there are winners and losers.That certainly is the case following the surprising Feb. 22 decision by the U.S. International...
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As with any decision regarding imported tires and tariffs and duties, there are winners and losers. As with any decision regarding imported tires and tariffs and duties, there are winners and losers. $As with any decision regarding imported tires and tariffs and duties, there are winners and losers.
Henkel, Benteler making composite leaf springs for Volvo
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DUESSELDORF, Germany—Laundry and personal care products-to-reactive polyurethane systems company, Henkel A.G. and automotive composites firm Benteler S.G.L. are supplying polyurethane...
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DUESSELDORF, Germany—Henkel and Benteler are supplying polyurethane composite leaf springs to the Volvo S90 and V90 following their introduction on the XC90 crossover SUV. DUESSELDORF, Germany—Henkel and Benteler are supplying polyurethane composite leaf springs to the Volvo S90 and V90 following their introduction on the XC90 crossover SUV. $DUESSELDORF, Germany—Henkel and Benteler are supplying polyurethane composite leaf springs to the Volvo S90 and V90 following their introduction on the XC90 crossover SUV.
Lubrizol invests to grow medical unit
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ANAHEIM, Calif.—Lubrizol Corp.'s LifeSciences unit has added thermoplastic polyurethane compounding abilities through a partnership with a medical compounder. Compounding Solutions, which...
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ANAHEIM, Calif.—Lubrizol's LifeSciences unit has added thermoplastic polyurethane compounding abilities through a partnership with a medical compounder. ANAHEIM, Calif.—Lubrizol's LifeSciences unit has added thermoplastic polyurethane compounding abilities through a partnership with a medical compounder. $ANAHEIM, Calif.—Lubrizol's LifeSciences unit has added thermoplastic polyurethane compounding abilities through a partnership with a medical compounder.
Doublestar inks Kumho deal, but Park counter-offer looms
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SEOUL, South Korea—China's Qingdao Doublestar Co. said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tire maker in a deal that could...
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SEOUL, South Korea—Doublestar said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tire maker in a deal that could enable Doublestar to further expand in China. SEOUL, South Korea—Doublestar said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tire maker in a deal that could enable Doublestar to further expand in China. $SEOUL, South Korea—Doublestar said it has signed an agreement with Kumho Tire creditors to buy a 42 percent stake in the South Korean tire maker in a deal that could enable Doublestar to further expand in China.
Raumedic ready to chase new U.S. business
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ANAHEIM, Calif.—Raumedic A.G. is poised to make further inroads into the North American market now that it has a manufacturing presence in the region. Its first plant in the U.S., located...
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ANAHEIM, Calif.—Raumedic is poised to make further inroads into the North American market now that it has a manufacturing presence in the region. ANAHEIM, Calif.—Raumedic is poised to make further inroads into the North American market now that it has a manufacturing presence in the region. $ ANAHEIM, Calif.—Raumedic is poised to make further inroads into the North American market now that it has a manufacturing presence in the region.
Digital Edition
Digital Edition
Published on September 9, 2002

Michelin takes over tire sales leadership

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Date Published September 9, 2002
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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.

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