A one-time pre-tax charge of US$646 million linked to the deconsolidation of its Venezuelan subsidiary’s financial statements dragged Goodyear Tire & Rubber into the red in the fourth quarter of 2015. The tyre maker recorded a GAAP basis net loss of $380 million during the three months to 31 December 2015, a far cry from the $2.1 billion net income achieved a year earlier. Goodyear calculates that excluding certain significant items, most notably the abovementioned deconsolidation, adjusted net income came to $257 million, or $0.93 per share.
The Maxxis Babes, the tyremaker’s promotional team of models, attended the Autosport International show at the NEC in January and £2,275 was generated from sales of their calendars. The money went directly to the charity dedicated to help anyone affected by cancer.
Pirelli claims ‘Grand Slam’ honours at the Bathurst 12 Hour production and GT car race in Australia: pole position, fastest race lap, and race victory.
Mid UK Recycling Ltd, a leading independent waste management, recycling and resource recovery specialist reports 100 per cent traceability since switching to Vacu-Lug to provide a dedicated tyre management service. With a comprehensive range of resource recovery services, including waste management, skip hire and public authority recycling contracts, Mid UK Recycling Ltd operates a nationwide collection fleet of over 70 vehicles.
The range of OE sensors offered by Tyresure Ltd now includes the Pacific TPMS line-up. Pacific Sensors Europe has appointed Tyresure its official distributor; Tyresure believes this new partnership will benefit customers tremendously, giving them both the best prices in the market and expert support from an experienced TPMS specialist.
The Board of Directors of Cooper Tire & Rubber Company has named Susan F. Davis a director of the company, effective immediately. Commenting on her appointment, company chairman, CEO and president Roy Armes said Davis’s “specific global expertise” will be “of tremendous value as we continue to pursue Cooper’s strategic plans for worldwide growth.”
New year, new trends It seems a bit pessimistic to start 2016 with a reference to recession. Nevertheless, when Bank of England deputy governor Minouche Shafik suggested the UK tyre industry is in the grip of recession-based consumer behaviour at the end of 2015 she highlighted an important point. The market is encountering different purchasing […]