Goodyear affected by high raw material prices
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 30 Jul 2003 16:18
Goodyear has reported second quarter losses of $73.6 million.
The tire-maker has lost $1.3 billion in the last two years has blamed the high cost of raw materials and the weak US dollar.
The high prices of raw material have affected the price of natural rubber and oil-related products.
At North America Tire unit volume has declined by 4.1 per cent and sales have dropped 0.3 per cent making it Goodyear’s largest and weakest business.
Robert J. Keegan chairman and chief executive officer of Goodyear said: “We have numerous obstacles to overcome including continued weakness in the US economy, but we remain confident that our strategies are solid.”
Next week the tire-maker will resume contract negotiations with United Steel Works of America in Cincinnati.
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...