US tyre major Goodyear expects 10% decline in Q4 raw materials costs

26 October 2012 17:44  [Source: ICIS news]

HOUSTON (ICIS)--Goodyear expects to see a 10% year-on-year decline in its raw material costs in the fourth quarter, the US-based international tyre major said on Friday.

However, for the full year of 2012, raw material costs are expected to rise by about 7% from 2011, Goodyear said. For the nine months ended 30 September, Goodyear's raw material costs were up $578m (€445m) from the same period on 2011.

Goodyear is a large user of styrene butadiene rubber (SBR), carbon black and other chemical inputs.

Goodyear also said that is expects its fourth-quarter tyre unit volumes to fall by about 3-5%, compared with the same period a year ago.

For the third quarter ended 30 September, Goodyear reported net income down 32% year on year to $110m as sales fell 13% to $5.26bn amid a difficult economic environment, particularly in Europe, the company said.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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