Current low prices for butadiene rubber have been singled out as a key reason why sales within Lanxess’ Performance Polymers business declined eight per cent year-on-year to €1.1 billion in the third quarter of 2013 despite a 14 per cent rise in volumes. Lanxess says lower raw material prices, especially butadiene, led to selling prices dropping 19 per cent. Sales were also hampered by negative currency effects.
The Grizz, aka Maurice Taylor, would have growled at Titan International’s designation as Zacks Investment Research’s ‘Bear of the Day’ on 13 November. Explaining why Titan was Zacks’ Ursidae of choice yesterday, Tracey Ryniec, a strategy analyst with the investment industry firm, opined that Titan International continues to suffer from a build-up in tyre inventory in the farm and construction industries and weak pricing.
Toyo Tire & Rubber’s third quarter 2013 results, published on 12 November, show a 10.5 per cent year-on-year increase in net sales for the June to September quarter, to ¥268.2 billion (£1.7 billion). Third quarter operating income, at ¥24.7 billion (£155.6 million), was up 159 per cent year-on-year and offered a 9.2 per cent margin.
Agricultural and off-road sector wholesaler Bohnenkamp has introduced its newly-revised online shop during the Agritechnica trade fair and says the site offers many new functions and services. The new site, which goes live on 17 November, is the latest progression for the now 13-year old bohnenkamp.de online shop. Amongst the brand-new innovations are mobile and tablet apps for Apple and Android users.
Visiting the pub isn’t just thirsty work these days – an increasing number of establishments cater to those arriving with a healthy appetite. To take the guesswork out of finding a pub that serves quality food, in 2004 Michelin launched its first Eating Out in Pubs Guide. The latest edition of the annual publication, Michelin Eating Out In Pubs Guide 2014, hits the shelves today at a price of £13.99, or €14.99 in Ireland.
Titan International’s Titan Mining Services business has launched an operation to reclaim raw materials from mining tyres. Titan Tire Reclamation Corp. (TTRC) will work together with joint-venture company Green Carbon, using the latter’s pyrolysis process.
It invested 20 million euros there in 2012, and Michelin will continue investing in its Bad Kreuznach plant in Germany to improve its responsiveness to market demands. Plant manager Cyrille Beau told local newspaper the Rhein-Zeitung that the continued investment would cover several projects, including the conversion of a production line to 18-inch tyres. As of next year it will solely produce tyres in this rim diameter.
The Petrol Retailers’ Association (PRA), the trade body representing independent forecourts in the UK, welcomes new legal guidelines from the Crown Prosecution Service calling for fuel thieves to be prosecuted.
Early next year, MAM Software will release a new eBay module for its Autopart management software. The eBay module, which is currently undergoing initial testing, is intended to make it easier for Autopart users to add parts listings to the eBay marketplaces in the UK and Ireland.
Sea freight rates are currently on a downward trend that looks likely to continue for the foreseeable future, says freight forwarding specialist Rob Shelley of Maritime Cargo Services. According to industry feedback, this year’s peak season from Asia to Northern Europe got off to a slow start in July, and remained unconvincing even up to the beginning of September. Exports from Asia to Northern Europe in the second quarter were only the same as during the same period last year, and year-on-year growth in the first seven months of 2013 reached just one per cent.
The annual Labour Rates Survey carried out by Warranty Direct, suggests that garages are charging an average of £8.16 an hour less than last year to carry out service or repair work. The average hourly labour rate in 2013 of both franchised and non-franchised workshops is £74.70, down 9.84 per cent from £82.86 in 2012. Data from more than 12,000 cases were analysed in the study.
Autoparts has announced two new appointments: Paul Rooney is its new product manager and Graham Montgomerie will take charge of the Kilmarnock branch. The former was promoted from roles within the company, while Montgomerie takes up his new role having moved from Arnold Clark.
Those who enjoy fine dining or just a good feed needn’t wait long for the Michelin Guide Great Britain & Ireland 2014. It will be released on 4 October, and Michelin has given a heads up on what’s to expect in the latest edition.
It’s been a year since Continental returned to what it calls the “stock exchange premier league”, and the German firm considers its DAX comeback to have been an “overwhelmingly positive” one. Over the last twelve months the company’s shares have risen more than 54 per cent to €125.55 and even recorded an all-time high of €127.45. And after joining in 22nd position for market capitalisation, the company moved up to 19th place thanks to strong share performance.