First-half 2008 report card: Nokian is the BIG winner; Titan also shines

July 2, 2008

Stock prices for six of 18 publicly traded tire manufacturers increased in the first half of 2008. Nokian Tyres plc was the big winner, up almost 37% from Dec. 31, 2007, to June 30, 2008.

Four other overseas stocks, all trading for under $1.00, also showed increases over the last six months.

Titan International Inc. was the only one of the three major United States-based tire manufacturers to increase its stock price. While Titan was up 13.9%, Cooper Tire & Rubber Co. and Goodyear Tire & Rubber Co. were down 52.7% and 36.8%, respectively.

Since June 29, 2007, both Cooper and Goodyear have experienced even greater decreases. Cooper's stock price has dropped 71.6% in the last year, from $27.62 to $7.84, while Goodyear's has dropped 48.7%, from $34.76 to $17.83.

Nexen Tire Corp. announced a 10-for-1 stock split on March 14, 2008. Entering 2008, Nexen's stock was trading at $43.19. Six months later, it is trading at $2.66.

Excluding Nexen, here are the gains and losses in the first six months (companies are listed alphabetically):

* Bridgestone Corp., down 13.3% (from $17.71 to $15.35);

* Continental AG, down 21.1% (from $129.37 to $102.01);

* Cooper, down 52.7% (from $16.58 to $7.84);

* Federal Tire Corp., up 8% (from $.50 to $.54);

* Goodyear, down 36.8% (from $28.22 to $17.83);

* Groupe Michelin, down 38.5% (from $116.79 to $71.85);

* Hankook Tire Co. Ltd., down 27.2% (from $19.11 to $13.90);

* Kenda Rubber Industrial Corp. Ltd., up 16.6% (from $.48 to $.56);

* Kumho Tire Co., down 42.8% (from $14.94 to $8.54);

* Nankang Rubber Tire Corp. Ltd., up 8.3% (from $.84 to $.91);

* Nokian Tyres, up 36.9% (from $35.06 to $48.01);

* Pirelli & Cie SpA, down 36.1% (from $1.08 to $.69);

* Stamford Tyres International Pte Ltd., up 4.3% (from $.23 to $.24);

* Sumitomo Rubber Industries Ltd., down 15.3% (from $8.90 to $7.54);

* Titan International, up 13.9% (from $31.26 to $35.62);

* Toyo Tire & Rubber Co. Ltd., down 11.8%% (from $3.71 to $3.27);

* Yokohama Rubber Co., down 21.9% (from $6.07 to $4.74).

Exchange rates versus the United States dollar from Dec. 31, 2007, to June 30, 2008, are as follows:

1. Euro: .6794 to .6352.

2. Taiwanese dollar: 32.52 to 30.349.

3. Won: 936.53 to 1046.46.

4. Yen: 112.35 to 106.18.

5. Dollar (Singapore): 1.4467 to 1.3605.