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Goodyear recognized by Fortune as world’s most admired tiremaker  

Wednesday, February 22, 2017

Akron, OH - Goodyear, for the fifth year in a row, has been recognized as the world’s most admired tiremaker by Fortune magazine. Among companies in Fortune’s World’s Most Admired Companies’ Motor Vehicle Parts category, Goodyear was also the No. 1 ranked U.S.-based company and ranked No. 2 overall. In the Motor Vehicle Parts category, Goodyear was ranked No. 2 in six of the nine key attributes measured, and No. 3 in three others. Goodyear finished ahead of its key global tire competitors in overall score and in seven of the nine categories. Started in 1983, the Fortune Most Admired list is considered “the definitive report card on corporate reputations.” It uses a rigorous assessment by 3,800 executives, board directors and securities analysts to determine a company’s overall reputation by evaluating innovation, people management, use of assets, social responsibility, management quality, financial soundness, long-term investment, product/service quality and global competitiveness. The full list, with all categories, and related stories appear in the March issue of Fortune, which goes on sale Monday, March 20, and online at fortune.com/worlds-most-admired-companies/. - * Email

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Leaf fall disease strikes early in India, may lead to rubber production shortages  

Wednesday, February 22, 2017

Kottayam, India - The Hindu Business Line reports: "Even as rubber prices are moving up, growers are facing another threat, from leaf fall disease in plantations. According to reports, in certain areas, leaf fall started in early January this year. Typically, it sets in only in February. This year’s summer is predicted to be severe, and the days are already very hot in some plantations in Kerala. The possibility of leaf fall disease, with a big impact on production, spreading to other areas cannot be ruled out. The Rubber Board has come out with precautionary measures, including whitewashing to save the trees from heat absorption. For growers already impacted by the earlier low prices, the plant disease could deal a big blow. Whatever gains they make from the current price hike will be negated by the production loss. This is particularly true for small and marginal growers. Even with a lower production rate, however, tapping continues in some plantations. A fall in rubber production may lead to a shortage of 30-40 percent. Expecting increases following the price hike, growers may retain the sheets rather than release them to the market." - * Email

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McLube

Yokohama reports declining profits for fiscal 2016  

Wednesday, February 22, 2017

Tokyo, Japan - The Yokohama Rubber Co., Ltd., announced that its profit attributable to owners of its parent company declined 48.3 percent in fiscal 2016 (January to December 2016), to 18.8 billion yen, on declines of 22.4 percent in operating income, to 42.3 billion yen, and 5.3 percent in net sales, to 596.2 billion yen. Yokohama’s operating income exceeded the projection announced by the company in August 2016, though the figures for profit attributable to owners of its parent company and net sales were below the August projections. The downturns in sales and earnings reflected adverse conditions in overseas tire markets, including the appreciation of the yen and declining prices. Yokohama achieved an increase in earnings in its tire business in Japan. In July 2016, Yokohama acquired Alliance Tire Group B.V., which manufactures and markets tires for agricultural, industrial, construction and forestry machinery. Yokohama has included the operations of Alliance Tire Group in its consolidated results as the ATG segment as of July 1, 2016, and ATG sales were consistent with management’s expectations in volume and value. Sales and earnings declined in Yokohama’s multiple business segment on account of weak demand. Yokohama paid an interim dividend of 26 yen per share, and management proposes to pay a year-end dividend of 26 yen per share. The annual dividend would thus total 52 yen per share. Sales in Yokohama’s Tires segment declined 10.0 percent, to 450.6 billion yen, and operating income declined 15.6 percent, to 36.3 billion yen. The company’s business in Japan’s original equipment market declined in sales value on account of a decline in unit vehicle production and slumping prices. Operating income in Yokohama’s Japanese original equipment business rose, however, on account of declining prices for raw materials. Yokohama’s tire business in the Japanese replacement market declined in unit volume, but successful promotion of high-value-added products improved the composition of the company’s sales portfolio and produced an increase in operating income. The company’s tire business outside Japan declined in sales and operating income on account of the appreciation of the yen and escalating price competition, though unit volume increased. Unit volume was flat in North America but increased in Europe, partly as the result of Yokohama’s progress in cultivating new sales channels, and also increased in the Chinese original equipment market. In Yokohama’s multiple business segment, sales declined 7.9 percent, to 112.1 billion yen, and operating income declined 28.9 percent, to 7.5 billion yen. That segment consists primarily of business in high-pressure hoses; Hamatite sealants and adhesives and electronic equipment coatings; conveyor belts; antiseismic products; marine hoses and pneumatic marine fenders; and aircraft fixtures and components. Sales in high-pressure hoses declined, reflecting a decline in Japanese production of construction equipment. Sales also declined in industrial materials amid a downturn in Japanese steel production and slumping prices for natural resources. Operating income increased in Hamatite sealants and adhesives and electronic equipment coatings, driven by North American sales gains in automotive sealants, but sales declined overall on account of slumping Japanese demand. Sales declined in aircraft fixtures and components as weakness in the commercial sector more than offset sales gains in the government sector. Sales in the ATG segment totaled 25.5 billion yen. Business in that segment was consistent with management’s projections, as noted, in regard to unit volume and sales value. It reflected vigorous measures for promoting sales amid slumping demand and escalating price competition associated with a decline in grain prices. Yokohama has recorded an operating loss of 2.1 billion yen for the ATG segment in fiscal 2016. That reflects the inclusion of acquisition-related expenses under selling, general and administrative expenses and the amortization of goodwill. Yokohama’s fiscal projections for 2017 call for profit attributable to owners of parent to increase 59.7 percent, to 30.0 billion yen, on a 12.2 percent increase in operating income, to 47.5 billion yen, and a 10.7 percent increase in net sales, to 660.0 billion yen. The company will adopt the International Financial Reporting Standards in fiscal 2017. Recalculating the fiscal 2017 projections under those standards results in projections of 51.0 billion yen for operating income, and 635.0 billion yen for net sales. - * Email

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Asia Pacific conductive silicone market forecast to reach $1.99 billion by 2021  

Wednesday, February 22, 2017

Dublin, Ireland - Research and Markets has announced the addition of the "Asia Pacific (APAC) Conductive Silicone Market - Forecasts from 2016 to 2021" report to its offering. The Asia Pacific conductive silicone market is expected to witness the highest growth during the projected period, at a CAGR of 9.59 percent, reaching $1.999 billion in 2021 from $1.154 billion in 2015. Market growth in the region is driven by increased demand for conductive silicone for power generation, transportation, consumer electronics and LEDs, construction, photovoltaics and sustainable energy generation. Demand for conductive silicone has increased in the region due to high scale Chinese manufacturing activities, and dominance of Japan in advanced manufacturing sectors like electronics. Growth over the forecast period is also expected to be bolstered by the Indian market that is seen strengthening due to government policies with regards to ease of doing business, and due to presence of a large consumer base. - * Email

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India approves second phase to train 22,000 rubber tappers and processors  

Wednesday, February 22, 2017

Kochi, India - The Indian Ministry of Skill Development and Entrepreneurship (MSDE) has approved the second phase of the Ru​b​ber Board project for skill development in the rubber plantation sector under the Pradhan Mantri Kausal Vikas Yojana (PMKVY). The project proposes to impart Recognition of Prior Learning (RPL) training to 22,000 persons in rubber tapping and processing in Kerala, Tripura and Assam. About ₹6.17 crore has been allocated towards this. Of which ₹4.76 crore is for Kerala to impart training to 17,000 persons and ₹1.41 crore for northeastern states to provide re-skilling for 5,000 people. The project is being awarded after the successful completion of the first phase in Kerala, benefiting 10,000 persons. The second project will also be implemented by the board in collaboration with the National Skill Development Corporation (NSDC) and the Rubber Skill Development Council (RSDC) in the next six months. The board has also submitted special projects to MSDE for skilling another 9,000 persons in Kerala and the northeastern states at a financial outlay of ₹7.30 crore. Projects are also being planned in the processing and manufacturing sectors for implementation during 2017-18. To address the skilled manpower requirement, it is proposed to certify all rubber tappers in the country by 2020 under PMKVY. - * Email

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