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Sumitomo's Richard Smallwood testifies against proposed auto parts tariffs
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WASHINGTON—Imposing tariffs on imported auto parts would harm rather than help the U.S. auto industry and American consumers, according to Richard Smallwood, CEO and president of Sumitomo...
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WASHINGTON—Imposing tariffs on imported auto parts would harm rather than help the U.S. auto industry and American consumers, according to Richard Smallwood, CEO and president of Sumitomo Rubber North America. WASHINGTON—Imposing tariffs on imported auto parts would harm rather than help the U.S. auto industry and American consumers, according to Richard Smallwood, CEO and president of Sumitomo Rubber North America. $WASHINGTON—Imposing tariffs on imported auto parts would harm rather than help the U.S. auto industry and American consumers, according to Richard Smallwood, CEO and president of Sumitomo Rubber North America.
USTMA ambassadors showcase industry in D.C.
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WASHINGTON—Anthony Jackson, a technical leader at the Goodyear plant in Fayetteville, N.C., was hard at work one day recently when he received a call to go to the manufacturing director's...
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WASHINGTON—Twelve tire industry production line and middle management workers were chosen from the member companies of the U.S. Tire Manufacturers Association to represent the industry in meetings in Washington. WASHINGTON—Twelve tire industry production line and middle management workers were chosen from the member companies of the U.S. Tire Manufacturers Association to represent the industry in meetings in Washington. $WASHINGTON—Twelve tire industry production line and middle management workers were chosen from the member companies of the U.S. Tire Manufacturers Association to represent the industry in meetings in Washington.
Auto industry to tell Commerce Department to ditch tariff proposal
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WASHINGTON—A wide spectrum of auto interests, armed with the latest impact studies, will warn at a Commerce Department hearing July 19 that raising auto tariffs would severely harm the...
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WASHINGTON—A wide spectrum of auto interests, armed with the latest impact studies, warned at a Commerce Department hearing July 19 that raising auto tariffs would severely harm the industry and consumers. WASHINGTON—A wide spectrum of auto interests, armed with the latest impact studies, warned at a Commerce Department hearing July 19 that raising auto tariffs would severely harm the industry and consumers. $WASHINGTON—A wide spectrum of auto interests, armed with the latest impact studies, warned at a Commerce Department hearing July 19 that raising auto tariffs would severely harm the industry and consumers.
No one injured at Emerald plant following blast, fire
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AKRON—Those living and working within a half-mile radius of Emerald Performance Materials' Akron plant were evacuated shortly after 1 p.m. July 18 in response to an explosion and subsequent...
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AKRON—Those living and working within a half-mile radius of Emerald Performance Materials' Akron plant were evacuated shortly after 1 p.m. July 18 in response to an explosion and subsequent blaze that filled the air with thick plumes of smoke. AKRON—Those living and working within a half-mile radius of Emerald Performance Materials' Akron plant were evacuated shortly after 1 p.m. July 18 in response to an explosion and subsequent blaze that filled the air with thick plumes of smoke. $AKRON—Those living and working within a half-mile radius of Emerald Performance Materials' Akron plant were evacuated shortly after 1 p.m. July 18 in response to an explosion and subsequent blaze that filled the air with thick plumes of smoke.
Bridgestone to invest $12 million in Illinois tire plant
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BLOOMINGTON, Ill.—Bridgestone Americas Inc. is investing $12 million to expand off-the-road tire production at its plant in Bloomington, adding multiple sizes and patterns for 29-, 33- and...
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BLOOMINGTON, Ill.—Bridgestone Americas is investing $12 million to expand off-the-road tire production at its plant in Bloomington, adding multiple sizes and patterns for 29-, 33- and 35-inch OTR tires. BLOOMINGTON, Ill.—Bridgestone Americas is investing $12 million to expand off-the-road tire production at its plant in Bloomington, adding multiple sizes and patterns for 29-, 33- and 35-inch OTR tires. $BLOOMINGTON, Ill.—Bridgestone Americas is investing $12 million to expand off-the-road tire production at its plant in Bloomington, adding multiple sizes and patterns for 29-, 33- and 35-inch OTR tires.
Conti to revamp as holding company; eyes IPO for powertrain business
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HANOVER, Germany—Continental A.G. is planning to reorganize by 2020 into a holding company with three business sectors—rubber, automotive and powertrain—with the powertrain...
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HANOVER, Germany—Continental is planning to reorganize by 2020 into a holding company with three business sectors—rubber, automotive and powertrain—with the powertrain business being set up as an independent, publicly held company. HANOVER, Germany—Continental is planning to reorganize by 2020 into a holding company with three business sectors—rubber, automotive and powertrain—with the powertrain business being set up as an independent, publicly held company. $HANOVER, Germany—Continental is planning to reorganize by 2020 into a holding company with three business sectors—rubber, automotive and powertrain—with the powertrain business being set up as an independent, publicly held company.
Jason adds to hose program's support team
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MARCO ISLAND, Fla.—Jason Industrial Inc. said it is having success thus far with the hydraulic hose program it introduced in mid-2017, especially because it has beefed up its technical...
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MARCO ISLAND, Fla.—Jason Industrial said it is having success thus far with the hydraulic hose program it introduced in mid-2017, especially because it has beefed up its technical support team. MARCO ISLAND, Fla.—Jason Industrial said it is having success thus far with the hydraulic hose program it introduced in mid-2017, especially because it has beefed up its technical support team. $MARCO ISLAND, Fla.—Jason Industrial said it is having success thus far with the hydraulic hose program it introduced in mid-2017, especially because it has beefed up its technical support team.
Self-driving bill critics oppose maneuver to clear Senate
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WASHINGTON—Safety and consumer advocates are urging senators to reject a parliamentary maneuver to secure passage for stalled legislation governing self-driving cars by attaching it to a...
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WASHINGTON—Safety and consumer advocates are urging senators to reject a parliamentary maneuver to secure passage for stalled legislation governing self-driving cars by attaching it to a must-pass reauthorization for the Federal Aviation Administration. WASHINGTON—Safety and consumer advocates are urging senators to reject a parliamentary maneuver to secure passage for stalled legislation governing self-driving cars by attaching it to a must-pass reauthorization for the Federal Aviation Administration. $WASHINGTON—Safety and consumer advocates are urging senators to reject a parliamentary maneuver to secure passage for stalled legislation governing self-driving cars by attaching it to a must-pass reauthorization for the Federal Aviation Administration.
SUVs, CUVs may be curtailing growth of OE V-, Z-rated tires
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AKRON—The share of the U.S. original equipment and replacement tire markets held by high-performance tires—defined as H-rated and higher—has risen for eight straight years,...
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AKRON—The share of the U.S. original equipment and replacement tire markets held by high-performance tires has risen for eight straight years, according to U.S. Tire Manufacturers Association data, but growth for two classifications seems to be stalled. AKRON—The share of the U.S. original equipment and replacement tire markets held by high-performance tires has risen for eight straight years, according to U.S. Tire Manufacturers Association data, but growth for two classifications seems to be stalled. $AKRON—The share of the U.S. original equipment and replacement tire markets held by high-performance tires has risen for eight straight years, according to U.S. Tire Manufacturers Association data, but growth for two classifications seems to be stalled.
HS continues growth in North America
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DETROIT—Hwaseung R&A Co. Ltd. has come a long way since it first established operations in North America.The firm said it's doubled its automotive revenue since 2013, thanks largely to...
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DETROIT—Hwaseung R&A has come a long way since it first established operations in North America. DETROIT—Hwaseung R&A has come a long way since it first established operations in North America. $DETROIT—Hwaseung R&A has come a long way since it first established operations in North America.
Digital Edition
Digital Edition
Published on September 4, 2006

Bridgestone steals Michelin's crown in 2005

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Date Published September 4, 2006
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Reflecting the shifting currency values and growth strategies globally, the Rubber & Plastics News global top 75 tire makers saw a number of changes this year, including Bridgestone Corp. jumping to the No. 1 spot to replace Michelin, which had held that rank for four straight years.

Meanwhile, Hankook Tire Co. Ltd. surged ahead of Cooper Tire & Rubber Co., and Kumho Tire Co. Inc. moved ahead of Toyo Tire & Rubber Co. Ltd. into the No. 8 and 10 spots.

The rankings, based on fiscal 2005 sales, also saw Taiwan's Cheng Shin Rubber/Maxxis International eclipse the billion-dollar sales mark. Next year there could be two more-China's Triangle Group Co. Ltd. and India's Apollo Tyres Ltd. (based on its acquisition of South Africa's Dunlop Tyres International).

Overall, the global market grew 9 percent last year to an estimated $101 billion. Bridgestone, Michelin and Goodyear account for 53 percent of the world market, and the 10 largest makers represent nearly 77 percent.

Bridgestone's move to No. 1 was aided by an 11.6-percent gain in tire division sales over 2005 versus Michelin's 3.6-percent improvement. Bridgestone also benefited slightly from a change in the yen/dollar exchange rate; the euro/dollar rate was unchanged from 2004 to 2005.

The company's position is further solidified by its ownership stake in BRISA/Bridgestone-Sabanci Tire Mfg. in Turkey, which posted sales of $432.2 million.

Goodyear reported 6-percent growth in its tire business and is ranked a close third at $17.5 billion, a tick behind Michelin's $17.9 billion and Bridgestone's $18.3 billion.

Cooper Tire could regain the No. 8 ranking this year, as sales are predicted to increase by about $500 million based on the integration of the Chengshan Shandong activities in China.

Other companies making noticeable sales jumps in 2005 were GPX International Tire-the new company formed in the merger of Galaxy Tire Co. and Dynamic Tire Corp.-and Sibur-Russkie Shiny and Nexen Tire Corp., which reported 48.5- and 55.3-percent sales growth, respectively. Separately, Nexen announced plans for a plant in China.

Looking ahead, acquisitions made in recent months will scramble the rankings next year. Besides Cooper's purchase of majority control of Chengshan Shandong, two other firms made moves in the past year:

* Apollo Tyres' $62 million acquisition of Dunlop Tyres International will boost Apollo's annual sales by more than $200 million, pushing Apollo north of $900 million in sales overall.

* Titan International Inc.'s separate purchases of Goodyear's North American farm tire business and Continental Tire North America Inc.'s off-the-road tire operation will add $300 million or more to Titan's ledger, boosting its tire business to about $500 million in annual sales. That would position Titan among the top 25 tire makers worldwide.

Average sales per employee of the major tire makers slipped 1.7 percent to $194,917, with a high of $452,222 for Hankook and a low of $40,514 for Amtel-Vredestein N.V.

Finland's Nokian Tyres P.L.C. topped the earnings list this past year, posting an operating profit/sales ratio of 16.9 percent and a net profit/sales ratio of 11.9 percent.

On the pre-tax side, Continental A.G. followed at 10.9 percent and Hankook at 9.9 percent. Pirelli & C. S.p.A. posted net earnings of 8.8 percent and Hankook posted 7.3 percent.

The average operating profit ratio for the 17 major tire companies for which data were available was 7.6 percent. The net ratio was 5.1 percent.

Only Cooper Tire and Amtel-Vredestein N.V. were in the red in 2005.

Of the 75 companies listed this year, 17 are from China; nine from India; eight from the U.S.; five each from Taiwan and Japan; four from Russia; three from South Korea; two each from Italy and Iran; and one each from Argentina, Belarus, Czech Republic, Finland, France, Germany, Indonesia, Israel, Malaysia, Mexico, the Netherlands, Pakistan, Slovak Republic, South Africa, Sri Lanka, Sweden, Tunisia, Turkey, Ukraine and Vietnam.

New to the rankings this year are: Dena Tire & Rubber Mfg. Co. Ltd. of Tehran, Iran, at No. 60; J.V. Matador-Omskshina of Omsk, Russia, at No. 73; and Falcon Tyres Ltd. of Mysore, India, at No. 75.

* * *

Companies by country

China: 17

India: 9

U.S.: 8

Taiwan: 5

Japan: 5

Russia: 4

South Korea: 3

Italy: 2

Iran: 2

* One company each from 20 other countries.

* * *

Corporate sales per employee

Company: Sales/employee

Hankook: $452,222

Toyo Tire: $400,786

Nokian Tyre: $280,434

Yokohama: $273,113

Sumitomo: $267,189

Nexen: $261,285

Cooper Tire: $245,971

Kumho: $242,462

Goodyear: $240,524

Continental: $215,270

Pirelli: $210,504

Bridgestone: $197,567

Shandong Linglong: $177,456

Michelin: $152,109

MRF: $84,426

Apollo Tyres: $78,426

Cheng Shin/Maxxis: $77,273

Amtel-Vredestein: $40,514

Source: Company annual reports, surveys

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