Canadian Tire is set to take over 12 leases on former Target Canada stores, the company announced Wednesday. Canadian Tire said the deal for the locations will cost US$17.7 million, and is subject to approval by the court-appointed trustee monitoring…
Category: Industry News
First quarter 2015 earnings up for TRW Automotive Holdings Corp
Including special items, TRW reported net loss of US$366 million or US$3.13 per share in the first quarter of 2015, compared with net earnings of US$199 million or US$1.68 per share in the prior-year quarter. Revenues in the reported quarter…
Michelin buys Black Circles for £50m
One of Scotland’s most successful entrepreneurs has sold his tyre-fitting business for £50m to Michelin. Mike Welch, chief executive of Blackcircles.com, can expect to gain a third of that sale price, while staying with the company. He started selling tyres…
Goodyear Tire & Rubber Co Upgraded at Zacks (GT)
Zacks upgraded shares of Goodyear Tire & Rubber Co from a hold rating to a buy rating in a research note released on Monday morning. They currently have US$32.00 target price on the stock. Zacks’ analyst wrote, “Goodyear’s first-quarter 2015 adjusted earnings…
Import duty hike, dragon effect push up natural rubber price
Close on the heels of finance minister Arun Jaitley’s announcement of raising the customs duty on natural rubber (NR), price of NR in the domestic market has perked up a tad. In the last five days, the price of RSS-4…
HEXPOL: Interim Report January-March 2015
Sales rose 38 per cent to 2,951 MSEK (2,131). Operating profit increased 36 per cent to 495 MSEK (364). Operating margin amounted to 16.8 per cent (17.1). Profit after tax increased 34 per cent to 352 MSEK (262). Earnings per…
Indian Tyre industry to benefit from improving auto demand, lower raw material costs
The Indian tyre industry has been witnessing tremendous growth for the past few years on account of growth in automobiles demand, especially in passenger vehicles and two-wheeler segments. In fact, availability of raw material (natural rubber) and ultramodern production facilities…
Acquisition of Leeser by Semperit finalised
Semperit A.G. Holding has completed the acquisition of rubber seal manufacturer Lesser GmbH & Co. K.G. to strengthen the firm’s Semperform business. Antitrust authorities approved the deal April 29. Together, Semperform and Lesser give the operation a future-oriented portfolio in…
Rubber bounces back
After cooling off for more than a year, natural rubber prices are showing some signs of life. Prices at the Kottayam and Kochi markets in Kerala, the largest rubber producing State in the country, have firmed up to ?125-135 a…
Delphi Automotive PLC Shares Gap Up
Delphi Automotive PLC shares gapped up before the market opened on Friday following a stronger than expected earnings report, AmericanBankingNews.com reports. The stock had previously closed at US$82.99, but opened at US$83.00. Delphi Automotive PLC shares last traded at US$83.63, with a…