Author: RubberWorld

GEON Performance Solutions announced the acquisition of PolymaxTPE which specializes in the development of premium thermoplastic elastomer (TPE) materials for manufacturers across a diverse range of industries throughout North America, Asia and Europe. PolymaxTPE has two full-service manufacturing sites in Nantong, Jiangsu, China, and Waukegan, Ill, USA.

To achieve its mid-term targets, the company will adopt a package of cost-reduction measures. It thus aims to achieve a consolidated adjusted EBIT margin of around 8 to 11 percent in the next two to three years and then improve within this range. The company has also sharpened its sales expectations. In the short term (two to three years), Continental aims to achieve total sales of around €44 billion to €48 billion. In the medium term (three to five years), it expects total sales to be around €51 billion to €56 billion (outlook for 2023: around €41 billion to €43 billion). It will also carve out parts of the business and carry out further portfolio reviews. Furthermore, the DAX-listed company is increasing the corridor for dividend distributions to around 20 to 40 percent of net income (previously: around 15 to 30 percent).

Just in time for winter, Yokohama Tire has launched the 907W™, a premium, extreme traction drive tire which is designed for fleets and operators who are looking to keep trucks rolling in snow and icy conditions.

The 907W, which replaces the SY767™, carries the three-peak mountain snowflake symbol, which means it meets or exceeds the industry’s required performance criteria for severe snow service. It is available now in the U.S. in three sizes: 295/75R22.5, 11R22.5 and 11R24.5.

The $6.5 billion project, excluding governmental incentives and subsidies, includes building a new ethylene cracker and increasing polyethylene capacity by 2 million MTA as well as retrofitting the site’s existing cracker to net-zero Scope 1 and 2 emissions. The investment is expected to deliver $1 billion of EBITDA growth per year at full run rates over the economic cycle while decarbonizing 20% of Dow’s global ethylene capacity.

Bridgestone Retail Operations (BSRO), a subsidiary of Bridgestone Americas, announced that Andrew Richards is the company’s 2023 Automotive Service Excellence (ASE) Master Technician of the Year. Richards was recently honored at an awards ceremony held by the National Institute for Automotive Service Excellence.

Continental has put its new driving simulator for tires into operation. It will be used from now on for new and further tire developments, especially in the original equipment business. An intensive test phase of around twelve months preceded the operational phase. Virtual tire tests will save costs, raw materials and shorten development times. The high-tech system is known as a driver-in-the-loop simulator (DIL), which calculates the exact driving dynamics parameters for the tires and the respective test vehicle. Thanks to its high maneuverability, the simulator can provide Continental’s professional test drivers with subjective driving impressions that are comparable to those from tire tests on a real test track.

As part of the settlement, the Companies agreed to pay the State of Ohio a combined total of $110 million, 80 percent of which the State has allocated to restoration of natural resources related to operation of the Washington Works facility. Consistent with the binding Memorandum of Understanding between the Companies reached in January 2021, DuPont’s share of the settlement will be approximately $39 million.

Under the MOU, the two companies will conduct a joint research and development project for Neodymium-Butadiene rubber using Bio-Butadiene and expand the use of environmentally friendly synthetic rubber in tire manufacturing.

The Goodyear Tire & Rubber Company announced that Joe Burke has been named vice president of its North America Commercial business. He reports to Steve McClellan, president, Goodyear Americas.

The International Trade Commission’s (ITC) issues affirmative preliminary determination on dumped truck and bus tires from Thailand.