Goodyear bumps results upward AKRON—Goodyear has revised its third quarter financial results to account for a gain in income from its European joint venture with Sumitomo Rubber Industries Ltd.
Net income for the quarter ended Sept. 30 has increased to $109.1 million (69 cents per share) from the $97.2 million (61 cents per share) reported on Oct. 21. For the first nine months of 1999, net income rose to $200.3 million ($1.26 per share) from $188.4 million ($1.18 per share).
All per-share amounts are diluted.
The one-time gain in other income resulting from the Sumi-tomo venture, previously estimated at $137.8 million ($131.8 million after tax, 83 cents per share) has been increased to $149.7 million ($143.7 million after tax, 90 cents per share).
Nissan recalls light-duty trucks
WASHINGTON—Nissan Motor Corp. is recalling 2,215 Nissan Diesel UD1200 light-duty trucks, model years 1998-2000, for deflation of their original-equipment Dunlop tires, size LT215/85R16.
The tires have stress splits or cracks occurring from the point of attachment of the sidewall to the square bead wire bundle, with resulting damage to the tire ply, Nissan reported.
Goodyear plans new blimp
AKRON—Goodyear has started reconstructing a 192-foot replacement for its fallen airship the "Spirit of Akron," which suffered severe damage in an accident close to its base at Wingfoot Lake in Suffield, Ohio.
The new blimp is expected to fly in late January without delay, according to Chairman Samir Gibara. "The Goodyear blimp is one of the world's best known corporate icons," Mr. Gibara said. "The outpouring of concern we have received from all corners of the world underlines the deep personal affection that people have for the blimp."
Michelin wins last '99 Le Mans race
LAS VEGAS—Michelin North America Inc. gained its seventh victory in the eighth and final round of the 1999 American Le Mans Series held Nov. 7 at the Las Vegas Motor Speedway.
Drivers JJ Lehto and Steve Soper won the race driving a Michelin-shod BMW V12 LMR. Overall, drivers on Michelins led all 129 laps of the race.
Goodyear, Pirelli Tire North America, Yokohama Tire Corp. and Dunlop Tire Corp. all supplied tires for participants in the American Le Mans race.
Gault named Avon board chairman
NEW YORK—Former Goodyear chairman and CEO Stanley Gault has been elected non-executive board chairman of Avon Products Inc., the $5.2 billion cosmetics manufacturer best known for its door-to-door marketing approach.
His election was announced Nov. 4, simultaneous with Avon's naming of Andrea Jung, its president and chief operating officer, to succeed retiring chairman and CEO Charles R. Perrin.
Mr. Gault, who retired from Goodyear in 1997, has been a member of the New York-based company's board of directors for 14 years. He also serves on the boards of several other companies, including Wal-Mart Stores Inc.
Conti tire wins magazine award
NEW YORK—Popular Science magazine has chosen Continental A.G.'s so-called "intelligent tire" one of its 100 "Best of What's New" achievements in science and technology for 1999.
Popular Science, the highest-circulation science and technology magazine worldwide, named Conti's "sidewall torsion sensor" concept one of its eight winners in the automotive technology category. The magazine singled out the SWT's promise of providing more useful data faster to a car's electronic traction and braking control systems.
The SWT concept is based on monitoring the tire's reaction to various driving forces, including acceleration, braking, cornering, and others, Conti said.
Conti anticipates SWT making it to market in 2002, although the first prototype integrated into a car recently ran its initial tests.
BFS upgrades Internet site
NASHVILLE, Tenn.—Bridge-stone/Firestone Inc. has redesigned its corporate Web site to give easier access to Web pages featuring BFS' divisions and racing programs.
The site, www.bridgestone-firestone.com, features updated information on the tire maker and its locations in the Americas.