BUSINESS NEWS
Lanxess confirms FY forecast; EU label expected to stimulate business
At the company’s Annual Stockholders’ Meeting on 15 May, Lanxess CEO Axel C. Heitmann stated that the specialty chemicals firm remains on course for growth in 2012. “We will continue to pursue our successful strategy of focusing on dynamic markets, megatrends, profitable growth and a solid financial basis,” said Heitmann. The company confirmed its forecast for the full-year 2012: EBITDA pre-exceptionals is expected to grow by between five and ten per cent compared with last year.
Bridgestone to quit electronic paper business
In order to place a greater focus upon its core businesses, Bridgestone has elected to withdraw from the electronic paper market. The company also indicates that increasing competition and rapidly declining prices in the liquid crystal panel business played a role in its decision. At present the exact timing for Bridgestone’s exit from the business has yet to be determined, however the Japanese manufacturer says it expects to conclude its production of electronic paper by the end of October 2012.Bridgestone net income up 35% in Q1
For the first quarter of 2012, Bridgestone has reported net sales of ¥726.2 billion (£5.6 billion), a three per cent increase over the first quarter of fiscal 2011. The company’s operating income amounted to ¥63.0 billon (£490.0 million), an increase of 13 per cent, ordinary income was ¥61.7 billion (£479.9 million), an increase of ten per cent, and net income was ¥42.2 billion (£328.2 million), a year-on-year increase of 35 per cent....Russian growth a Q1 highlight at Nokian
Nokian Tyres president and CEO Kim Gran says the Finnish tyre maker got off to a “flying start” in 2012 and made clear improvements in both production and sales. In a stock exchange release dated 9 May, Gran shared that “sales improved in all our markets with growth in Russia again outshining other areas. Productivity gains, a tight ship and an improved ASP guaranteed a good financial result.”...Cooper gives word on quarterly dividend
Cooper Tire & Rubber has announced a quarterly dividend of 10.5 cents per share on its common stock, payable 29 June 2012, to stockholders of record at the close of business on 1 June 2012. This is the 161st consecutive quarterly dividend paid by the tyre maker....Raw Materials »
- Bridgestone says Russian Dandelions may be sustainable source of Natural Rubber
- Pilot plants at Lanxess butyl rubber site to test new technology
- Apollo Vredestein participating in rubber-alternative research
- SEIR liner technology offers improved air retention
- JSR breaks ground on Thailand S-SBR plant