Goodyear, Sumitomo Rubber to be allies; deal to propel U.S. concern back into top position in global tire market

Article Abstract:

In a move to return the major tiremaker to the No. 1 spot globally, Goodyear Tire and Rubber Co. has formed a complicated alliance with Japan's Sumitomo Rubber Industries Ltd. The alliance amounts to approximately a 10% stake in Sumitomo which comes at a time that helps both companies. The alliance will allow the two some economies of scale similar to the advantages of a merger.

Comment:

Goodyear will get a 10%stake in alliance with company

Japan, Alliances, partnerships, RUBBER AND MISC. PLASTICS PRODUCTS, Rubber Products, Rubber Product Manufacturing, Contracts, Rubber industry, GT, Goodyear Tire & Rubber Co., Sumitomo Rubber Industries Ltd.

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Conoco expects to trim jobs, spending in '99

Article Abstract:

Conoco Inc., like all the U.S. oil companies, will cut jobs and spending in 1999. The company that DuPont will divest itself of about mid-year announced 975 job eliminations and spending cuts of $500 million to $1.8 billion, a spending reduction of 21%. Other cost cutting measures will be announced in January.

Comment:

Job eliminations and spending cuts in the plan for 1999

Strategy & planning, PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Planning, Finance, Employment, Petroleum industry, Conoco Inc.

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