Financial
The steady recovery in natural rubber futures pricing seen over recent weeks has stalled for now as prices dipped before China's Golden Week holiday.
Goodyear is planning to retool its Asia-Pacific operations to a third-party distribution and retail sales model, with the goal of improving profitability in Australia and New Zealand.
Natural rubber futures closed the trading week ended Sept. 15 with a mixed performance across major Far East exchanges.
Goodyear plans to cut 1,200 jobs throughout its Europe, Middle East and Africa region to make the business unit 'leaner, more efficient and customer-centric.'
Global natural rubber futures experienced significant gains across major exchanges during the trading week ended Sept. 1, with prices reaching an eight-month high.
Kumho Tire Co. is projecting record sales in the second half of 2023, based on a restructuring of its global distribution network and expansion of global production capacity.
Imports of tires into the U.S. fell by double-digits in the three- and six-month periods ended June 30, with the commercial truck/bus tire sector being hardest hit.
Based on its first half showing—particularly on price-mix—Pirelli upgraded its full-year forecast.