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Rubber News VIETNAM TO PRODUCE 1.2 MLN TONNES OF NATURAL RUBBER IN 2020 Asia Pulse...May 12, 2008 Monday 11:37 AM EST Viet Nam will produce 1.2 million tonnes of natural rubber in 2020, said Tran Thi Thuy Hoa, General Secretary of the Vietnam Rubber Association (VRA). Michelin Warns Against Price War in Global Tyre Market Global Insight...May 2, 2008 One of French tyre giant Michelin's three managing partners has said that Michelin has no intention of sparking a price war in the competitive tyre market by lowering its prices and has said that he hopes his competitors follow suit. Speaking to Dow Jones, Jean-Dominique Senard said: "If someone breaks ranks [on pricing], it won't be us." However, Dow Jones reports that Senard fears that new players in the market, notably from Asia, could start cutting prices as they look to steal market share from their more established rivals. Goodyear releases new regional tire Prism Insight Fleet Owner Online Exclusive...May 8, 2008 The Goodyear Tire & Rubber Co. has introduced a new KellyArmorsteel KRH regional tire designed for long-lasting wear inapplications such as P&D and school buses. According to Bruce Woodruff, Goodyear marketing manager forregional and light-truck commercial tires, the Armorsteel KRHprovides excellent traction on wet and dry roads and its groovesand lateral blading help displace water from under the tire. The tire will be available at Kelly dealers and truckstops. Itis currently available in 11R22.5 and 11R 24.5 sizes in an H loadrating, and will be available in a 295.75R22.5 size in mid-June,the company said. Goodyear Tire & Rubber Q1 sales up 10% Datamonitor NewsWire...April 28, 2008 Monday 3:54 PM GMT The segment operating income in first quarter of 2008 was $367 million, up 62% from $226 million in the strike-affected first quarter of 2007. The gross margin was 19.9% for the first quarter of 2008, compared to 16.8% in first quarter of 2007. The net income from continuing operations was $147 million or $0.60 per share. This compares to a loss from continuing operations of $110 million or $0.61 per share in the first quarter of 2007. Including discontinued operations, Goodyear had a net loss of $174 million or $0.96 per share in first quarter of 2007. Robert Keegan, chairman and CEO of Goodyear, said: "Our excellent first quarter results demonstrate the success of our strategies to grow our higher-margin premium product lines, reduce costs and pay down debt." Bridgestone's Operating Profit Rises Almost 2% Y/Y During Q1 Global Insight...May 8, 2008 Tyre-maker Bridgestone has announced that it achieved a small increase in its operating profit on the back of a growth in sales, reportsAFX Asia. Revenues for the three months ending 31 March climbed by 3.6% year-on-year (y/y) during the period to [yen]797.84 billion ($7US.6 billion), with operating earnings up by 1.8% y/y to [yen]52.42 billion. However, net profits declined by 18.4% y/y to [yen]22.96 billion due to exchange rate losses because of the renewed strength of the yen. Bridgestone's buy of Firestone, 20 years later Akron Beacon Journal (Ohio)...May 5, 2008 Monday May 5--It was a buyout that helped transform Akron. Twenty years ago this month, Bridgestone Corp. completed its $2.6 billion acquisition of venerable but troubled Akron industrial giant Firestone Tire & Rubber Co. The sudden, and stunning, Japanese takeover of an American corporate icon became national news. The anniversary also arrives during a month when Bridgestone Firestone employees will come up with a recommendation on the future of their North American technical center and its 600 jobs in Akron. While united in the making of tires, the marriage of two different corporate -- indeed, national -- cultures had its share of bumps in the road over the past 20 years. Akron mayor calls on Bridgestone execs in Japan Akron Beacon Journal (Ohio)...May 1, 2008 Thursday May 1--Akron Mayor Don Plusquellic really wants to persuade Japan-based Bridgestone Corp. to keep its technical center and 600-plus high-paying jobs in the Rubber City. NORTH SUMATRA'S RUBBER EXPORTS DOWN SHARPLY IN Q1 Asia Pulse...May 1, 2008 Thursday 3:33 PM EST The volume of North Sumatra's rubber exports in the first quarter of 2008 dropped 5.78 per cent to 127,494 tons from 135,804 tons in the same period a year earlier. "The decline in North Sumatra's rubber exports is regrettable as it took place when prices in the world market were high," Executive Secretary of Indonesia's Rubber Business Association (Bapkindo) for North Sumatra, Edy Irwansay, said here on Tuesday. He said that the decline in North Sumatra's rubber exports was partly due to raw material shortages and high rain fall. (ANTARA) China's Largest Rubber Plant Opens in Yunnan China Chemicals Daily (China)...April 25, 2008 Friday (Apr. 25, 2008)- The new large-sized rubber plant that is located in the Mengla County of Yunnan Province and is funded by Yunnan Natural Rubber Industrial Co., Ltd.'s Mengpeng Branch recently went into operations. With a designed annual processing capacity of 38,000t of rubber, the new plant is Mainland China's largest rubber plant with the most advanced equipment and techniques. The Mengpeng Branch has seven production areas, with the rubber planting area totaling 16,147.77ha (242,216.6mu), and has produced more than 20,000t of dry rubber every year for three consecutive years.(www.chinainfoworld.com) Copyright © NF China / IEL. All Rights Reserved Goodyear posts $147m profit in Q1 Global English (Middle East and North Africa Financial Network)...April 27, 2008 Sunday Goodyear Tire & Rubber Co., the world's third-largest tiremaker, said in a statement that it swung to a profit in the first quarter by focusing on higher-priced tires and strong international markets, AP reported. The company revealed that earned $147 million in the quarter that ended March 31, compared with a loss of $174 million in the same period in 2007. Sales rose to $4.94 billion from $4.5 billion a year ago. Goodyear's Chairman and Chief Executive Robert J. Keegan said that the results demonstrate success in emphasizing higher-margin premium product lines, reducing costs and paying down debt. Keegan told analysts the company wants to reduce inventory in North America and tire production by about 5,000 tires over the course of this year. Goodyear did not disclose where or when the cutbacks will occur or if jobs may be affected. Bridgestone Firestone to Invest $150US mil. in Brazilian Operations Global Insight...April 24, 2008 Bridgestone Firestone plans to invest between $130US million and $150US million in capacity expansion and technology upgrades in Brazil over the next three years, according to Brazilian newspaperDiario do Grande ABC. The Brazilian arm of Bridgestone Firestone said that it will spend about $100US million to $120US million on technology-upgrading projects, and some $30US million to increase its commercial truck tyre output from 5,000 tyres per day to 7,000 by 2013 at its Santo Andre plant, according to the report. American Tire Corp to acquire OTR tire plant of Goodyear Tire & Rubber Financial Deals Tracker...April 22, 2008 Tuesday American Tire Corp. (ATC), an OTR tire manufacturer, has proposed to acquire The Goodyear Tire & Rubber Company's OTR tire plant located in Topeka, Kansas. The Goodyear Tire & Rubber Company is a manufacturer of tires and rubber products. ATC plans to spend $200 million to modernize the plant, increase production capacity for all sizes of OTR tires by at least 20%, and create more job opportunities. Cooper Tire & Rubber Company Comments on First Quarter Results PR Newswire...April 25, 2008 Friday 6:57 PM GMT FINDLAY, Ohio, April 25 /PRNewswire-FirstCall/ -- As a result of the challenging economic environment, the Company expects to report modest earnings for the quarter ended March 31, 2008. Our current estimate is considerably below expectations, due primarily to continued increases in raw material costs globally, increased charges for product liability claims related primarily to revised estimates on existing claims, and the decline in the volume of unit shipments in North America, particularly in March. (Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO ) Recent changes in macroeconomic conditions in North America have created a new set of challenges for our Company. Consumers have reduced the number of miles driven in reaction to the economic slowdown, and subsequently are delaying tire purchases. The declining dollar's impact and other factors that have driven record-high raw material prices, specifically, in natural rubber and oil-derived materials, coupled with the use of last-in, first-out cost flow assumptions for inventory accounting in North America, have all contributed to the increased volatility in expected earnings. Goodyear swings to quarterly profit as sales rise 10% MarketWatch...April 25, 2008 Friday 4:12 PM EST NEW YORK (MarketWatch) -- Goodyear Tire & Rubber Co. shares jumped 9% early Friday after the tire giant said it swung to a first-quarter profit, reflecting price hikes, demand for high-end tires and a boost from currency translations. Bridgestone launches new truck-tire business unit Prism Insight Fleet Owner Online Exclusive...April 22, 2008 NEW YORK | Having officially merged its North American trucktire and retreading operations earlier this month, Bridgestonerolled out its new Bridgestone Bandag Tire Solutions (BBTS)business unit publicly for 1,000 dealers and distributors gatheredhere for the truck tire group's annual BizCon meeting. Goodyear Joins U.S. EPA SmartWay Transport Partnership PR Newswire...April 22, 2008 Tuesday 6:00 PM GMT AKRON, Ohio, April 22 /PRNewswire-FirstCall/ -- The Goodyear Tire & Rubber Company(NYSE:GT), the nation's leading commercial tire manufacturer, announced today it has joined the U.S. Environmental Protection Agency's SmartWay Transport Partnership, which previously approved using the company's Fuel Max linehaul tires on SmartWay tractors and trailers. (Logo: http://www.newscom.com/cgi-bin/prnh/20050204/GTLOGO ) Rubber manufacturers in Kerala decry new tax proposal:CRMA The Press Trust of India...April 15, 2008 Tuesday INDONESIAN RUBBER FACTORIES ON BRINK OF COLLAPSE Asia Pulse...April 15, 2008 Tuesday 11:09 AM EST Rubber processing plants in the Indonesian province of West Kalimantan are now on the brink of collapse because of difficulties in meeting purchase contracts signed three months ago as the result of limited raw materials from the farmers. Rubber industry achieves record results Vietnamese News Agency (VNA)...April 18, 2008 Friday The rubber industry last year achieved record results in production and business. Its latex output increased from 1.73 tonnes per hectare in 1995 to 2.07 tonnes in 2007. Rubber farms reached an average value of 65 million USD (4,000 USD) per hectare a year, an increase of 2.5 times compared with 2002. The industry has applied intensive farming, and has planted high-yielding hybrids and diversified rubber products to increase production value. Noteworthy in 2007 was the increase in workers' salaries to 4.43 million VND a month, a record level so far, up by 13 percent from 2006. Goodyear to introduce new tires Datamonitor NewsWire...April 14, 2008 Monday 7:54 AM GMT Steve McClellan, vice president of Goodyear commercial tire systems, said: "Two is better than one, particularly when customers formerly had to use one tire to do it all. G150 HSA uses special compounds for high-scrub applications used on school buses and in local pickup and delivery service." Bruce Woodruff, marketing manager for regional and light-truck commercial tires at Goodyear, said: "Both all-position tires, available in 11R22.5 sizes in G and H load ratings, feature circumferential grooves and lateral blades that help displace water for confident driving on rain-soaked roads." Make it easy for tire recycling firm Waterloo Region Record...April 21, 2008 Monday Re: Turning Old Tires Into New Ideas -- April 15 The news report on a Cambridge company, Recovery Technologies, which breaks down used tires and recycles the rubber and steel found in the tire, said that the company cannot get enough used tires and has had to shut down for brief periods of time. RUBBER PRICES CLOSE SLIGHTLY HIGHER TODAY Malaysia Economic News...April 18, 2008 Friday Prices on the Malaysian rubber market closed slightly higher today supported by the rising crude oil prices which fuelled speculation that prices of competing synthetic rubber may increase. Japan Tire Makers Boosting Output in China Jiji Press Ticker Service...April 19, 2008 Saturday 5:27 PM JST Japanese tire makers are boosting their production capacities in China in a bid to meet surging tire demand on the back of rapid motorization in the country. Titan Tire Signs Contract with Deere Business Wire...April 18, 2008 Friday 10:05 PM GMT Titan Tire Corporation, a subsidiary of Titan International Inc., announced today that it has signed a three-year agreement to supply farm tires to various John Deere affiliates. Ceat tyres set to ride on youth Hindustan Times (New Delhi)...April 17, 2008 Thursday Apr. 17--MUMBAI -- Ceat Ltd, India's largest tyre-maker for the replacement market, is making major changes in its management structure. For starters, the company has put together a team of managers in the early twenties to build on its new brand presence, which was unveiled on Tuesday by Harsh V Goenka, Chairman, RPG Group. Newell to cut jobs in Tenn., move work to NE Ohio Plain Dealer (Cleveland)...April 12, 2008 Saturday Newell Rubbermaid Inc. said it will cut nearly 200 jobs at a plant in Tennessee and move the work to Northeast Ohio and Texas in September. Goodyear taxes under discussion Topeka Capital-Journal (Kansas)...April 11, 2008 Friday By Mike Hall THE CAPITAL-JOURNAL Shawnee County commissioners will hear comments from the public April 28 on continuation of a property tax exemption for the Goodyear Tire & Rubber Co. plant. CHINA'S RUBBER PRICE MAY DECLINE AGAIN UPON NEW SUPPLIES Asia Pulse...April 10, 2008 Thursday 1:27 PM EST Market analysts widely hold the price of natural rubber in China, which has been declining since late February, is likely to rally in the near future amid increasing release of inventories. Japan's Sumitomo to raise global PP capacity Chemical News & Intelligence...April 3, 2008 Thursday TOKYO (ICIS news)--Japan's [1]Sumitomo Chemical plans to increasepolypropylene (PP) compounds production by establishing manufacturingfacilities in Thailand and Saudi Arabia and expanding capacity at itsexisting plant in China, a company spokesman said on Thursday. The Goodyear Tire & Rubber Company elects Laura Thompson as officer M2 EquityBites...April 9, 2008 Wednesday The Goodyear Tire & Rubber Company's (NYSE:GT), a tyre company, reported on 8 April that its board of directors has elected the company's present vice president of business development, Laura Thompson, as an officer of the corporation. Goodyear Well Positioned Despite Economic Uncertainty PR Newswire...April 8, 2008 Tuesday 2:18 PM GMT AKRON, Ohio, April 8, 2008 /PRNewswire-FirstCall/ -- In his address at The Goodyear Tire & Rubber Company's(NYSE:GT)2008 Annual Shareholder Meeting today, Chairman and Chief Executive Officer Robert J. Keegan said the company is well positioned for future success despite economic uncertainty in 2008. (Logo: http://www.newscom.com/cgi-bin/prnh/20050204/GTLOGO ) 70 people to lose jobs as MTI Groendyk closes Buchanan rubber plant: The gradual closing probably will begin in 60 days and may not end until late this year. The Roanoke Times (Virginia)...April 8, 2008 Tuesday Apr. 8--About 70 people will lose their jobs in the months ahead at a manufacturing plant in Buchanan. MTI Groendyk, a subsidiary of Canada-based MTI Global, described to employees Monday its plans to close the factory. The gradual closing probably will begin in about 60 days and may not end until late this year, said Gregg Strangways, a vice president for MTI Global. China sacrifices rain forests for rubber; Booming market for tires takes a toll The International Herald Tribune...April 8, 2008 Tuesday On a map on the ecologist Liu Wenjie's computer, the subtropical southern tip of Yunnan Province is slowly turning to red from green. Rubber plantations, shown in red on Liu's computer screen, have supplanted nearly all the low-lying forest in the prefecture of Xishuangbanna and are now starting to encroach on the highlands. Liu and other scientists are worried that the expansion of rubber plantations to feed China's voracious tire industry, the world's largest, will destroy the ecosystem of Xishuangbanna. Yunnan Province is home to China's richest variety of flora and fauna. VIETNAM'S RUBBER EXPORT REVENUES INCREASE 25% IN Q1 Asia Pulse...April 8, 2008 Tuesday 12:27 PM EST Following a price increase in the world market, Vietnam obtained a rubber latex export value of almost US$300 million in the first quarter of this year, a 25 per cent year-on-year increase, despite a slight decrease in volume. Terms & Conditions   Privacy Copyright © 2006 LexisNexis, a division of Reed Elsevier Inc. All rights reserved.

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