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Goodyear eyes sale of farm tire units
Tire Business...June 8, 2009
Goodyear plans to explore the sale of its farm tire businesses in Latin America and Europe/Middle East/Africa, sales of which the company termed â€œnot materialâ€ to its overall revenues. Goodyear said its Asia Pacific farm tire business is not included in this potential divestiture. Goodyear has farm tire capacity in both regions: in Amiens and Montlucons, France; Debica, Poland; Adapazari and Izmit, Turkey; Uitenhage, South Africa; Americana and Sao Paulo, Brazil; Cali, Columbia; and Lima, Peru. The company sold its North American farm tire operationâ€”including a factory in Freeport, Ill.â€”in 2005 to Titan International Inc., which continues to sell Goodyear-brand farm tires in North America.
TENNECO EXPANDS IN CHINA WITH NEW EMISSION CONTROL JOINT VENTURE IN BEIJING AND COMPANY'S FIRST EMISSION CONTROL MANUFACTURING PRESENCE IN GUANGZHOU
ENP Newswire...June 8, 2009 Monday
BEIJING- Tenneco Inc. (NYSE: TEN) announced today that it has formed a new joint venture (JV) with Beijing Hainachuan Automotive Parts Company Limited (BHAP) to produce vehicle emission control exhaust systems for the China market. Initially, the new JV will supply emission control systems for Beijing Hyundai starting in 2010. Tenneco will serve as the majority owner with a 51% equity stake and BHAP will own the remaining 49%. The new joint venture will be phased in over time and will leverage the engineering, manufacturing, and customer relationship strengths of each partner. In addition to supplying Hyundai, the joint venture will be well-positioned to supply other regional OEMs in the future.
Elastomers target industrial/wire and cable/truck markets; A. Schulman Expands Sunprene[R] Elastomers Line for Industrial, Specialty Wire& Cable, and Heavy Truck Markets
Product News Network...June 9, 2009
Based on ultra-high molecular weight PVC, Sunprene[R] Elastomers offer optimized thermoplastic processing and recyclability as well as maximized tear/abrasion resistance and high-flex fatigue. They are available in series formulated for extrusion applications, with hardness ranges from Shore 35A-85A durometer and specific gravity range of 1.20-1.29. Suiting injection molding and extrusion, other series has hardness range from Shore 57A-65A and specific gravity from 1.22-1.27.
Goodyear appoints new COO
Datamonitor NewsWire...June 8, 2009 Monday 11:46 AM GMT
Mr Kramer will report to Robert Keegan, chairman and CEO of Goodyear. The new role will be in addition to Mr Kramer's current role as president of the company's North American tire business until his successor is named. Mr Kramer joined Goodyear as vice president of corporate finance in 2000 after 13 years with PricewaterhouseCoopers, where he served in a variety of roles in the US and Europe. In March 2007, he was elected to his current position as president of the North American tire business. Mr Keegan said: "Rich's appointment as COO reflects our game plan of having a laser focus on operations globally during these extraordinary times. It also reflects the confidence that the board and I have in Rich's overall business leadership capability."
LANXESS CELEBRATES 100 YEARS OF SYNTHETIC RUBBER.
Info-Prod Research (Middle East)...June 8, 2009 Monday
TX According to EmpresasNews, to celebrate 100 years of synthetic rubber, LANXESS Group, German's leader in specialty chemicals, has launched the website www.worldrubberday.com, with information and interesting facts about the topic. The company is one of the largest manufacturers of this product in the world. With lots of content and countless tools available, the website will provide information about the history of rubber products and applications, market data and business units.
Lanxess buys Jiangsu Polyols Chemical
China Knowledge Newswire...June 12, 2009 Friday
Lanxess AG, a global player in the fields of chemicals, plastics and rubber, yesterday announced that it has reached an agreement with Jiangsu Polyols Chemical Co to acquire 100% equity interest of the latter. The deal is expected to be completed in the third quarter of this year. However, other details on the acquisition were not disclosed. The acquisition is in line with Lanxess's strategy to grow in emerging markets, such as Brazil, Russia, India and China, which contribute around 16% to the company's global sales. Martin Kraemer, chief executive of Lanxess Greater China, said the company did not rule out possibilities of more acquisitions in China, but they are unlikely to be big transactions. Lanxess' sales in China reached EUR 500 million in 2008, representing a year-on-year growth of 15%. Jiangsu Polyols Chemical's sales revenue was about RMB 100 million in 2008 with around 170 employees. It mainly produces trimethylolpropane for lubricants, paints and coatings.
Robby Gordon/TOYO TIRES won Baja...Again!
ENP Newswire...June 11, 2009 Thursday
Osaka, Japan- TOYO TIRE & RUBBER Co., Ltd. (President and CEO: Kenji Nakakura) hereby announces that Robby Gordon won the 41st running of the legendary Tecate SCORE Baja 500 held in Ensenada, Mexico from June 4 through June 7, 2009. Robby Gordon is an American driver supported by Toyo Tire U.S.A. Corp. (President: Yasushi Takagi), which is a subsidiary of TOYO TIRE & RUBBER Co, Ltd.
Taylor Chemical Company, a formulator and manufacturer of silicone-based technology, has announced "a comprehensive rebranding" and name change to Siovation; Industry News and Notes
Plastics Engineering...June 1, 2009
Taylor Chemical Company, a formulator and manufacturer of silicone-based technology, has announced "a comprehensive rebranding" and name change to Siovation. The company recently relocated its headquarters to new offices in Lawrenceville, Georgia USA, a suburb of Atlanta. The original building has become a dedicated manufacturing, R&D, and product-development site. Siovation is owned by Amber Chemical, Ltd. (www.amberchemical.com), a wholly owned subsidiary of Caledonia Investments PLC. www.Siovation.com.
Natural rubber export slumps to 94 tons in May; imports surge
The Press Trust of India...June 9, 2009 Tuesday
India exported only 94 tonnes of natural rubber in May against 3,159 tonnes in the same month last year, while imports surged 31 per cent as domestic prices far exceeded global rates, according to the Rubber Board.
Continental gets further vehicle manufacturer approvals for its winter tyres
ENP Newswire...June 8, 2009 Monday
Hanover- Continental has just secured further approvals for its winter tyres. Ultra-sporty cars, as well as compact and subcompact models will be driving this winter on tyres made by the European market leader. These approvals underscore the outstanding combination of high safety standards and sporty performance of tyres developed by Continental's engineers in Hanover. As a co-supplier of tyres for the compact BMW 1 Series, the trendy MINI, and the sporty BMW M3, the winter tyre expert from Hanover can now boast further additions to its list of approvals. BMW chassis experts still only approve tyres offering an optimum mix of agile performance and good grip on wintry roads in the cold season. 'It is extremely important to BMW that the tyres are capable of transmitting the vehicle's very good handling properties to the tarmac', explains Philipp Ohliger (27), tyre engineer at Continental. 'At the same time, they must offer a high degree of safety on snow so that the whole fun of driving a BMW is retained without limitations during the cold season as well.'
Goodyear ending 820 jobs in France
Associated Press Financial Wire...May 26, 2009 Tuesday 8:39 PM GMT
Goodyear Tire & Rubber Co. said Tuesday it plans to end consumer tire production at a plant in Amiens, France, as part of its strategy to reduce high-cost manufacturing.
Goodyear Akron Headquarters Moving Forward
PR Newswire...May 29, 2009 Friday 4:30 PM GMT
AKRON, Ohio, May 29 /PRNewswire-FirstCall/ -- The Goodyear Tire & Rubber Company (NYSE: GT) announced today the sale of certain of its Akron properties to Industrial Realty Group (IRG) as a first step toward finalizing plans for developing a new headquarters in Akron. (Logo: http://www.newscom.com/cgi-bin/prnh/20050204/GTLOGO )
Pirelli starts works at EUR 150mn tyre plant.
Romania Today...May 29, 2009 Friday
Italian tyre maker Pirelli started investing EUR 150mn in its second local tyre plant, similar to its first production facility that would reach the maximum production capacity of 5mn pieces next year from 3mn last year. The second plant, located next to the first one on the southern city of Slatina , will start operations within three years and will double the local production capacity to 10mn pieces. Pirelli has invested some EUR 250mn in Romania , out of which EUR170mn in its first tyre plant and the remaining in a cord plant and a anti-pollution filters producer. The company will receive EUR 28mn gradually as state aid for the construction of the second tyre plant.
Major tire makers reportedly cut production due to low demand.
Hungary Today...March 16, 2009 Monday
Three of the major international tire makers, located in Hungary , has reduced output at their local plants, according to a report of business daily Vilaggazdasag . Specifically, Korean Hankook was producing at 90% of its capacity since the beginning of the year. Moreover, the company had delayed works on an expansion project at the plant, which was planned to be completed in 2011. The first phase of the project with a total investment cost of EUR 500mn was done at 60%. Despite that, total projected output volume at the plant was projected at 5mn tires in 2009, representing a 25% y/y growth. French Michelin operated at a reduced six-days working week at its plan in Nyiregyhaza and at a four-days working week at its base plant in Budapest . No information was available on the output at Japanese tire maker Bridgestone at its Tatabanya plant but an official statement from the parent company read that production in five of its European plants was suspended. The latest statistical data showed that the rubber and plastics production industry shrank by 5.5% y/y in 2008 after a 25.3% y/y contraction in December alone and the recent news suggests that the negative trend is likely to be extended and even deepen in the first months of this year.
Wind turbine could soon be enhancing school lessons in Bognor
Bognor/Chichester & Midhurst Observers...May 28, 2009
A 15m-high wind turbine is proposed for Laburnum Grove Junior School. Its three rotor blades would produce six kilowatts of carbon-free electricity at 200rpm.
Efforts to promote rubber planting in Northeast begin to pay off
Bangkok Post (Thailand)...May 28, 2009 Thursday
May 28--Kamphan Hongsaen, a Nong Khai native, finished her training for rubber-tapping last week and hopes the new job will bring her greater prosperity. It is not common for people in the northeastern provinces to take up the profession, as they are more accustomed to cultivating crops such as rice and tapioca. "Overall, tapping is not so difficult. But it's hard to do it the right way and to get plentiful rubber without damaging the tree's bark," she said.
VIETNAM'S RUBBER EARNINGS PLUNGE 49% SO FAR THIS YEAR
Asia Pulse...May 28, 2009 Thursday 3:36 PM EST
The $245US million in profit from rubber exports in the first five months of this year is 49 per cent lower than the same period last year, according to the Vietnam Rubber Association.
LEHIGH TECHNOLOGIES, INC.; Lehigh Technologies Invests in Environmental, Health & Safety Performance
Healthcare Mergers, Acquisitions & Ventures Week...June 6, 2009
Lehigh Technologies, a leading supplier of engineered rubber powders, announced the completion and commissioning of a sophisticated dust control and explosion prevention system in its Tucker, Georgia facility. The system combines proven powder capture equipment with state-of-the-art explosion mitigation technology and meets or exceeds all existing OSHA requirements for facilities that manufacture powder (see also Lehigh Technologies, Inc.).
Lanxess launches rubber R&D center in Qingdao
China Knowledge Newswire...May 27, 2009 Wednesday
Lanxess AG, the world's leading chemicals maker, on May 21 launched the second phase of its expansion of its rubber R&D center in Qingdao City, Shandong Province, the Shanghai Daily reported. As part of its strategy to increase profits in Asia through research, the Germany-based specialty chemicals maker spent a total of $16US million on the center. Werner Breuers, a Lanxess board member, said the rubber R&D facility in Qingdao will help the company develop new products and applications for the rubber market and provide its Chinese customers with tailor-made and innovative products. Lanxess spent $140US million in its global R&D activities in 2007, aiming to sell or put to use 90% of its R&D projects before the end of 2008. Werner said the company would increase its R&D spending by 10% in 2009, despite the global economic recession. He explained that investment in R&D is a continuous process and that it's hard to judge the company's success ratio through specific figures, adding that Lanxess has had several R&D successes already. The company in February singed a cooperation agreement with Qingdao University of Science and Technology to train staff for the rubber industry.
China's rubber producers see profits decrease in Q1
Chinese Business News...May 26, 2009 4:13 PM CST
According to statistics from the China Rubber Industry Association, the association's 266 major member companies recorded combined industrial output value of RMB34.4 billion (approx $5US billion) in the first quarter of 2009, a year-on-year decline of 13.6 percent. These companies' total profits decreased 26.1 percent to RMB969 million (approx $142US million).
THE GOODYEAR TIRE & RUBBER COMPANY; Goodyear Announces Pricing of $1 Billion of Senior Notes
Healthcare Mergers, Acquisitions & Ventures Week...May 23, 2009
The Goodyear Tire & Rubber Company (NYSE:GT) announced that it has priced its offering of $1 billion aggregate principal amount of 7-year senior notes. The notes will be senior unsecured obligations of the company. They will be sold at 95.846% of the principal amount and will bear interest at a rate of 10.5%. Goodyear expects the offering to close on May 11, 2009, subject to customary closing conditions (see also The Goodyear Tire & Rubber Company).
COOPER TIRE & RUBBER COMPANY; Cooper Tire & Rubber Company Reports First Quarter Results
Healthcare Mergers, Acquisitions & Ventures Week...May 23, 2009
Cooper Tire & Rubber Company (NYSE:CTB) reported a net loss of $21 million, or 36 cents per share, for the quarter ended March 31, 2009. Net sales for the period were $571 million, down $108 million from the prior year same quarter. The decreased revenues were driven by volume declines offset by improved pricing and mix (see also Cooper Tire & Rubber Company). Results were pressured by decreased volumes and production curtailments as the Company manages inventory to align with demand. Operating profit was favorably impacted by lower raw material costs and improved underlying manufacturing operations, in addition to the improved sales price and mix. Cooper's results during the quarter included pretax restructuring charges of $14 million related to the on-going closure of its facility in Albany, Ga. Additionally the Company recorded $7 million of charges related to the tentative settlement of a previously disclosed retiree medical lawsuit.
Japan tyre manufacturers book net losses in Jan-March
Asia Pulse...May 13, 2009 Wednesday 6:06 PM EST
Japan's four leading tire companies booked net losses for the January-March quarter as demand plunged and cheaper rubber remained elusive. Though the price of rubber fell more than 40 per cent from a year earlier, the drop gave little or no boost to tire makers because their procurement rates lag several months behind the market.
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