CMG INTERNATIONAL TRADING DALIAN CO. ,mainly in regard of foreign trade of rubber machinery,manages all kinds of rubber machinery&equipment such as rubber mixing mill,internal mixer(banbury),dispersion mixe(kneader) ,rubber calender,rubber extruder,plate vulcanizer machine,rotary curing machine,precure tread liner moulding press machine,rubber powder and reclaimed rubber equipment,rubber hoses production line,rubber strip production line,tire building machine,heating water deaerator,tire shaping& curing press,cord splitting machine,cycle tire equipment,raw material machinery,check & measuring equipment,etc.
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Cooper Tire & Rubber Co. suffered a net loss of $21.3 million in the first quarter, compared with a $1.69 million profit in the year-ago quarter, as sales dropped 15.9 percent to $571.4 million.
The net loss includes more than $14 million in pre-tax charges related to the firm’s decision to close its Albany, Ga., tire plant and $7 million of charges related to the tentative settlement of a retiree medical lawsuit.
Cooper’s North American Tire operations recorded a $3.62 million operating loss, compared with an operating profit of $8.14 million a year ago, as sales fell 11.7 percent to $439.3 million.
The company said regional sales were impacted by soft demand in the replacement tire market. The Cooper brand continued to outpace the industry in the U.S. market when compared with the Rubber Manufacturers Association’s reported shipments for the industry, according to the tire maker.
The most significant volume decreases were in the economy and light truck tire segments. The private brand distributor channel was “significantly weaker,” but Cooper said it expanded its market presence in Mexico and Canada.
The Findlay-based tire maker has been curtailing production to align inventory with demand. The company said operating profit was positively impacted by lower raw material costs and improved underlying manufacturing operations, in addition to a better sales price and mix.
“There have been several recent signs of stabilization in tire demand, but the near-term outlook is still pressured by the macroeconomic environment,” said CEO Roy Armes. “Raw materials prices are difficult to forecast, but we do not see a return to the extreme price highs of last year. Commodity prices are likely to stabilize during 2009 and then begin to increase as demand for raw materials increases.”
CMG International Trading Dalian Co,Ltd
Contact Person: William Yang
MSN: williamy98@hotmail.com
Telephone: 86-411-82766648
Fax: 86-411-82766647
E-Mail: williamy98@yahoo.com.cn
Address: 22th floor, wan ke mansion, NO.67 Tong Xing street , zhong shan district, Dalian , Liaoning provice, China
