ERJ: News stories of the week

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Major tire makers named in US ‘price fixing’ lawsuit
The lawsuit, filed by a US citizen in Manhattan, alleges that Michelin, Continental, Nokian, Pirelli, Goodyear and Bridgestone, along with unidentified “other individuals or entities” had a ‘per se unlawful agreement’ to “artificially increase and fix" tire prices.

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Michelin reports higher profits in ‘unfavourable’ market conditions
Michelin Group has delivered a strong performance in 2023 with both sales and profits up amid “adverse market conditions and currencies”. 

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Cabot sees 30% rise in reinforcement materials earnings
For the quarter ended 31 Dec 2023, Cabot's Reinforcement Materials segment reported a 31% year-on-year increase in earnings (EBITDA) to $146 million (€135 million), on a marginal drop in sales to $641 million.

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Trelleborg names new sealing solutions leader, to create medical business unit
Trelleborg Group has announced a rejig at its Trelleborg Sealing Solutions (TSS) business area, with the appointment of a new president and the introduction of a newly created medical unit. 

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US cuts antidumping duties on Korean tires

The US Department of Commerce has lowered antidumping duties for passenger car and light vehicle tires from three major South Korean manufacturers Hankook Tire & Technology, Kumho Tire Co. and Nexen Tire Corp.

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Goodyear earnings, sales fall amid lower tire volumes, high costs
The US tire & rubber group reported a ‘total segment operating income’ of $968 million (€904 million) for the year, down from $1.27 billion reported the year before.

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ZC Rubber details plans for Mexico tire factory
The Hangzhou-based tire maker is to establish a manufacturing facility in Saltillo, with a potential size of up to 600,000 square metres, ZC Rubber announced 8 Feb.

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