Firms post strong sales; High raw material costs not a factor for everyone.(sales of Continental AG, Midas Inc. and Myers Industries Inc. not affected by high raw material costs)

Tire Business, August, 2006

The second quarter was strong for most tire industry-related companies as many saw earnings and sales grow despite escalating raw material costs.

Continental A.G., Pirelli & C. S.p.A., Myers Industries Inc. and Titan International Inc. all reported gains in sales and earnings during the quarter and first half compared with a year ago.

Group Michelin, despite higher sales from 2005, posted a 62-percent decrease in operating income because of raw material costs. Midas Inc. also struggled as brake and exhaust sales were soft while tire sales rose more than 14 percent.

Continental

Hanover, Germany-based Continental A.G. reported improved operating earnings in the six months ended June 30 despite ongoing increases in raw materials costs...

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