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Aug 1, 2012

TIRE MAKERS * WORLDWIDE

* New York - Goodyear Tire Soars Amid Auto, Truck And Parts Rally 

New York,NY,USA -Investor's Business Daily, by James Detar -31 July 2012: -- Auto makers, along with car and truck parts retailers, rolled to big gains in Tuesday afternoon trading, led by Goodyear Tire and Rubber, which reported second-quarter profit that topped analyst estimates... Auto and truck parts groups are among the lowest rated, but have been among the fastest rising industry groups since yesterday... Goodyear's Q2 earnings per share slid 12% to 57 cents, but easily topped analysts consensus of 46 cents a share... Sales fell 8.4% to $5.15 billion, missing Wall Street projections of $5.74 billion... 


* China - Rubber Demand In China To Contract 5% As Truck Sales Tumble 

Hong Kong,China -Bloomberg News -Jul 31, 2012: -- Natural-rubber consumption in China, the world’s largest user, will probably drop this year as slumping truck sales and slowing economic growth cut demand for heavy-duty tires, according to the country’s biggest maker... Usage may contract as much as 5 percent, said Shen Jinrong, chairman of Hangzhou Zhongce Rubber Co. Shen’s outlook compares with a forecast in June from Chris Pardey, chief executive at Singapore-based trading company RCMA Commodities Asia Group, for a 2.3 percent drop in demand to 3.69 million metric tons... Lower demand may extend rubber’s 13 percent drop in Tokyo this year as prices dropped for a fifth month in July. China’s economy expanded in the second quarter at the slowest pace in three years as Europe’s debt crisis hurt exports. Komatsu Ltd., the world’s second-biggest maker of dump trucks, said this month that demand in China wouldn’t recover this year... 


* Germany - Continental and SK in battery venture

Frankfurt,Germany -Fleet Europe (Belgium), by Tim Harrup -24 July 2012: -- Continental and SK Innovation (Seoul, South Korea) have founded a new company to develop and supply battery technology for the automotive industry. The company will be 51% owned by SK and 49% by Continental. The objective, announced during the official unveiling in Frankfurt on Monday, is to develop and market lithium-ion batteries for cars. SK already has battery cell experience and know-how, and this will be added to Continental’s battery system know-how. The two companies believe that increasingly stringent CO2-based taxation will further push the automotive industry to alternative power sources, and that batteries will have an important role to play in this...


* Ohio - Goodyear to Hire 1,000 Veterans, Recognized for Support of Employees Serving in the National Guard and Reserve 

Akron,OH,USA -Goodyear (PR) -July 27, 2012: -- James Rebholz, Employer Support of the Guard and Reserve (ESGR) National Chairman joined Steve McClellan, President of Goodyear’s North American tire unit, today at an event in Akron, Ohio, supporting Veteran and Reservist employment at Goodyear. During the event, McClellan announced Goodyear’s intent to hire 1,000 veterans over the next three years through its partnership with the United States Chamber of Commerce Hiring Our Heroes program and signed a statement of support for the Guard and Reserve on behalf of Goodyear...

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