Tire producer Stomil Olsztyn to post strong earnings for the Q3

Publicly traded tire producers, Goodyear's Dębica and Michelin subsidiary Stomil Olsztyn, will post strong earnings in the Q3 this year, thanks to record industry sales and a weaker złoty. According to Goodyear's data the sales of tires for passenger cars and transport vehicles reached a level of 5.4 million after three quarters of 2003. Goodyear also announced it c ontrols over 50% of the market share, an increase by 8% since the same period last year. Out of the whole segment, the product of which sales increased the most, that is by 21%, were tires used for fast driving, with an index above 210 kph. According to analysts the winter season will also be beneficial for tire producers. Until the end of September, 1.9 million winter tires had already been sold, an increase of 13% as compared to last year. "This has been a good time for tire companies. There is no sign of change in the constantly rising trend. We increased sales on the domestic market, and exports, which provide most of the revenues for Dębica and Stomil, are profitable thanks to a beneficial Euro exchange rate," says Tomasz Binkiewicz, sector analyst at Bank Ochrony Srodowiska brokerage house. (Parkiet, p. 16) A.K.