KOBE, Japan (Feb. 18, 2014) — Sumitomo Rubber Industries Ltd. reported double-digit gains in operating and net income for fiscal 2013 on 9.9-percent higher sales.
The company’s operating earnings for the year rose 10.5 percent to $788.7 million while net income jumped 26.4 percent to $458.5 million. Sales revenue increased to $7.99 billion.
Sumitomo offered no commentary on the results, issued as a Flash Report on the firm’s website.
Business unit and geographical breakdowns were not disclosed at this time.
Titan International and the United Steelworkers union have petitioned the U.S. International Trade Commission and U.S. Department of Commerce seeking relief from OTR tire imports from China, India and Sri Lanka. What’s your opinion?
|I wholeheartedly support their action – something needs to be done.||
|I think it’s a bad idea that could inevitably tie the hands of domestic tire makers.||
|I oppose any duties against tire importers—they only raise costs for distributors and make it harder to obtain inventory.||
|I’m kind of on the fence and not sure what’s right, but need more information before deciding.||
|I don’t really care whether or not relief is granted.||
|Total votes: 78|