Akron, Ohio- based Goodyear cut its full-year unit sales growth forecast for tires to a range of 1-2 percent this year from about 3 percent. The company also lowered its 2016 operating income expectations to between $2 billion and $2.025 billion from $2.1 billion- $2.2 billion. "The U.S. commercial truck industry continues to be affected by weak volumes," Chief...
Oct 28- Goodyear Tire& Rubber Co reported lower-than-expected quarterly revenue as shipments fell in the Americas and EMEA, and the biggest U.S. tire maker cut its full-year forecast for operating income, citing a volatile U.S. truck tire market. Shipments in the Americas, the company's biggest market, fell 5 percent in the third quarter to Sept. 30 while shipments...
Oct 28- Goodyear Tire& Rubber Co, the largest U.S. tire maker, reported an 8.1 percent fall in quarterly revenue on Friday as it shipped fewer tires in the Americas region, its biggest market. The company said net income available to its shareholders rose to $317 million, or $1.19 per share, in the third quarter ended Sept. 30, from $271 million, or 99 cents per share, a year...
*Beijing said to be orchestrating chemicals mega-merger. HONG KONG, Oct 17- A possible merger with fellow Chinese state-owned group Sinochem could bring welcome relief to debt-laden chemicals giant ChemChina as it looks to wrap up its $43.5 billion acquisition of Swiss-based seeds company Syngenta. Led by its chairman Ren Jianxin, a dynamic entrepreneur in...
LONDON/ MILAN/ FRANKFURT, Oct 6- Chinese firms including Shanghai Electric have approached Fiat Chrysler Automobiles to express an interest in buying its Comau robotics business, sources familiar with the matter told Reuters. Chinese conglomerate Sinomach and Shanghai Institute of Mechanical and Electrical Engineering have also approached FCA over a...
Investor Carl Icahn's company upped its bid for the rest of auto supplier Federal-Mogul's stock that it does not currently own.
Pep Boys said activist investor Carl Icahn's latest buyout offer was superior to the deal it accepted from Bridgestone.
Bad news has been a boon for Malaysia's rubber glove makers, with the ringgit's drop and South Korea's MERS outbreak likely to provide a twin boost.
Fears that Russia's economic downturn will ravage European multinationals may have been overstated in some cases, with companies that sell beer and soap defying expectations.
Shares of Malaysia's latex glove makers have had a tough year so far, but some analysts expect panic over Africa's Ebola outbreak may spur gains.
Wolfgang Schaefer, CFO at Continental AG, comments on the company's results and outlook, and discusses the impact the strong euro has had on the group's profitability.
Jean-Dominique Sénard, CEO of Michelin, comments on the group's Russian operations and says Europe needs to be more competitive to deal with moves in the euro currency.
Elmar Degenhart, Continental CEO, says the group is optimistic on North America and Asia but expects currency headwinds to remain strong in 2014.
Marc Henry, CEO of Michelin, comments on the group's results which were boosted by a pick-up in demand in U.S. and Europe but suffered from currency headwinds.
Pete Selleck, chairman and president of Michelin North America, explains why the group has decided to open its ninth plant in South Carolina and its strategy behind new facilities.
Wolfgang Schafer, Continental's CFO, discusses the impact the strong euro had on the group's results and says the European car market is stabilizing, albeit "on low volumes."
The CEO of Pirelli, Marco Tronchetti Provera, said that Europe needed a "common policy" to boost its economy.
Marco Tronchetti Provera, chairman at Pirelli Group, comments on the group's performance and says it has "all the tools to deliver," including new products and efficiency measures.
Christopher Chan, President Director of Southeast Asia's largest tire maker, Gajah Tunggal, speaks about the impact of a potential TPP deal on its business in Indonesia.
Europe remains difficult terrain, according to Pirelli, with the company focussed on the premium sector.