Goodyear Tire & Rubber Co. is set to acquire Cooper Tire & Rubber Co. for approximately $2.5 billion. Announced on Feb. 22, the acquisition will allow Goodyear to combine the mutually complementary brands of the two companies, expanding the product lineup it can offer to consumers and customers. By combining the strengths of the two North American companies in the...
Toyo Tire Corp. (TYO:5105) has released its business forecast for calendar 2021, indicating a recovery for the year. The company is projecting 372 billion yen ($3.49 billion) in sales revenue, up 8.2 percent year-on-year; 44 billion yen in operating income, up 21.1 percent; 42.7 billion yen in ordinary income, up 38.2 percent; and 26.4 billion yen in net income, up...
Yokohama Rubber Co. Ltd. (TYO:5101) has released its results forecast for calendar 2021. The company expects to generate 620 billion yen ($5.83 billion) in sales revenue for the year, up 8.7 percent year-on-year; 50 billion yen in business profit, up 35.9 percent; and net profit of 34.5 billion yen, up 31.1 percent. Looking at the upward and downward factors on...
Bridgestone Corp. (TYO:5108) has published its Mid-Term Business Plan for fiscal 2021–2023. The company here is targeting fiscal 2023 sales revenue of 3.3 trillion yen ($31.1 billion), an adjusted operating profit of 450 billion yen, a net profit of 290 billion yen, a return on invested capital (ROIC) of 10 percent and a return on equity (ROE) of 12 percent....
The Michelin Group is set to build its first tire recycling plant, locating this in the Antofagasta region of Chile as a joint venture with Swedish-based Scandinavian Enviro Systems AB (Enviro). Construction on the plant is slated to begin this year, with production then beginning in 2023. The project is expected to require an investment of around $30 million. Enviro...
The Michelin Group recently announced that it has been chosen to serve as Societe Air France SA’s exclusive tire supplier for the next 10 years. Beyond just covering tire supply, a new agreement between the two companies will see them bolster their collaborative efforts with regard to the sustainable development of the aviation sector, including CO2 emissions reduction and the...
