Financial
MUNICH — Recovered carbon black producer Pyrolyx A.G. is planning to delist its shares in Germany and consolidate all share trading onto the Australian Stock Exchange (ASX) by the end of March 2020.
NEW YORK — Icahn Automotive Group L.L.C. reported operating losses in the quarter and half-year ended June 30 despite higher sales in both periods. The second-quarter loss was more than double that reported in 2018.
PHILADELPHIA — Icahn Automotive Group L.L.C. is splitting into two independent aftermarket "Parts" and "Service" companies to focus better on unique strategies, customers and business opportunities, parent company Icahn Enterprises L.P. announced.
NOKIA, Finland — Nokian Tyres P.L.C. suffered double-digit drops in operating income for the quarter and half-year periods ended June 30 on slightly lower sales revenue.
HANOVER, Germany — Continental A.G.'s Rubber Group recorded a 2.1% decline in pre-tax operating earnings to $1.72 billion for the first half of 2019, despite a 3.1% increase in sales revenue.
KOBE, Japan — Sumitomo Rubber Industries Ltd. posted a 39.2% drop in operating profits for the half-year ended June 30 on 0.9% lower sales revenue.
TOKYO — Bridgestone Corp. has revised downward its earnings and sales forecasts for the full fiscal year after reporting a 20.6% drop in first-half operating income along with lower sales.
MILAN, Italy — Pirelli & C. S.p.A. has revised downward its financial outlook for 2019, citing continuing weakness in OE markets and competitive pressures on prices in the standard tires segment.
TOKYO — Yokohama Rubber Co. Ltd.'s operating and net income fell during the six months ended June 30 due to increased manufacturing and logistics costs and the negative effects of lower unit sales volume.
QUINCY, Ill. — Titan International Inc. fell into the red on an operating and net basis in the quarter and six months ended June 30 on the negative effects of lower sales, elevated operating costs and currency devaluations.