News In Brief.(Bandag Inc.'s sales declines)(Goodyear Tire and Rubber Co.'s Al Cohn resigns; William Hopkins appointed)

From: Tire Business | Date: February 13, 2006 | Copyright information

Raw material costs hurt Bandag in '05

MUSCATINE, Iowa-Bandag Inc. suffered double-digit declines in net earnings for the fourth quarter and the fiscal year on the negative effects of "unprecedented'' increases in raw material and energy costs.

For the year, Bandag reported a 5.8-percent increase in sales to $914.6 million, based almost entirely on price increases throughout the year. Net earnings for the year declined 26 percent to $49.5 million. For the four...

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