Author: RubberWorld

The Grieve Corporation is currently marking its 75th year in business. Begun in 1949 as a small job shop in Chicago, the company now occupies a 100,000 square foot facility in Round Lake, Illinois.

Grieve ovens are utilized for a variety of heat treating applications such as drying gold ore samples, stress relieving automotive parts, and curing the coating on military aircraft canopies. Among the numerous industries they serve are aerospace, mining, pharmaceuticals, construction, automotive, and energy.

Continental increased its earnings in the third quarter of 2024. In particular, the Automotive group sector made progress thanks to the measures taken to improve earnings, and it aims to make further gains in adjusted EBIT in the fourth quarter. As in the second quarter of 2024, the Tires group sector posted a good adjusted EBIT on the back of improved business in Europe, boosted not least by encouraging early sales of winter tires. Earnings in ContiTech, by contrast, were dented by continued weak industrial development in Europe and North America. Continental does not expect the industrial business to recover in the fourth quarter and is therefore adjusting its sales and earnings outlook for ContiTech. As a result, sales expectations have also been lowered for the Continental Group as a whole.

Orion S.A. reported its financial results for the third quarter of 2024, highlighting net sales of $463.4 million, a slight decrease of $2.8 million year over year. The company faced a net loss of $20.2 million, significantly impacted by a $42.5 million loss due to misappropriation of assets. This resulted in a diluted loss per share of ($0.35), with the misappropriation contributing ($0.72) to this figure. However, Adjusted EBITDA increased by 4% to $80.1 million, while Adjusted Diluted EPS slightly decreased to $0.47.

For the first nine months of 2024, Orion’s net sales rose to $1,443.3 million, up $17.6 million year over year. Despite this, net income dropped to $27.0 million, again affected by the $42.5 million loss from asset misappropriation. Diluted EPS for this period was $0.46, down $1.19 year over year. Adjusted EBITDA for the nine months fell by 10% to $240.5 million, and Adjusted Diluted EPS decreased to $1.40.

Stratasys announced the latest updates to its FDM® Fused Deposition Modeling and P3™ Programmable PhotoPolymerization product portfolios. These will be showcased at Formnext 2024, November 19-22, in Frankfurt, Germany.

The FDM platform updates include release of the Fortus FDC™ filament drying cabinet, a new validated FDM® PC-ESD material for the Fortus® 450mc and F900® printers, and an expanded layer height option for Ultem™ 9085 resin, in new Red and Aircraft Gray colors. Stratasys is also adding new materials to its Origin® P3™ platform.

Effective for all shipments on or after December 1, 2024, or as contracts allow, Cabot Corporation will raise prices globally for carbon black products sold by its specialty carbons business. This price increase is necessitated due to the impact of inflation on labor, maintenance and other manufacturing operations as well as supply chain related costs. The increase will vary by product and geography.

Sumitomo Rubber USA, LLC (SRUSA), a Tonawanda, New York-based manufacturer of automotive tires for passenger cars, trucks, buses and motorcycles announced plans to close its manufacturing facility in Tonawanda, NY.

The closure follows an extended examination of the viability of the facility, following thorough analysis of various business complexities, including mounting material and logistics costs, dated infrastructure, intermittent financial performance, and changing market conditions. The evaluation was undertaken as part of a broader strategy to ensure the long-term sustainability of the Sumitomo Rubber Group in the competitive international tire market.

This research project is an international project being conducted jointly by industry, government, and academia in Japan and Thailand, the world’s largest producer of natural rubber. The project is being led by Associate Professor Shinji Kanehashi of the Graduate School of Engineering at Tokyo University of Agriculture and Technology. Most of the natural rubber currently used by industry, including as a raw material for tires, is made from the sap of the Para rubber tree. Most rubber tree seeds, except those used for reseeding, are discarded. This research project aims to contribute to solving such environmental problems as global warming and the problem of economic disparity suffered by agricultural workers through the creation of new biomass businesses made possible by the development of a sustainable and effective utilization technology for Para rubber tree seeds, which are an untapped carbon-neutral resource.

Sri Lanka’s finished products rose by 9.64 percent year-on-year to US $ 758.91 million from January to September, thanks primarily to a 17.12 percent increase in exports of industrial and surgical rubber gloves and a 7.79 percent rise in pneumatic and retreated rubber tires and tubes.

Axtra3D® sets a new standard in mold-making with its Lumia X1 3D printer, offering an exceptional range of mold solutions. At Formnext in Germany, on Nov 19, Axtra3D will showcase four distinct mold types produced by the Lumia X1’s advanced Hi-Speed SLA technology

AMfg Labs LLC, in collaboration with JobsOhio, Ohio Southeast Economic Development and Belmont County Port Authority, announced an investment of over $1.1 million to expand its operations in Barnesville, creating 15 new jobs.

The investment is being supported by a $350,000 JobsOhio Revitalization Grant.