Gates Corp. has announced it will be closing its Newton facility in November, laying off 41 workers. This after the Company also announced that its Board of Directors has authorized a share repurchase program of up to $250 million of the Company’s ordinary shares. This authorization is valid through December 2025. This authorization replaces the existing authorization that was set to expire in October 2024.
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The soft electrodes developed by Klas Tybrandt’s research group at Linköping University are stretchable to follow the body’s movements without damaging tissue. They consist of extremely thin threads of gold and soft silicone rubber. “The classical conductors used in electronics are metals, which are very hard and rigid. The mechanical properties of the nervous system are more reminiscent of soft jelly. In order to get an accurate signal transmission, we need to get very close to the nerve fibers in question, but as the body is constantly in motion, achieving close contact between something that is hard and something that is soft and fragile becomes a problem”, says Klas Tybrandt, professor of materials science at the Laboratory of Organic Electronics at Linköping University, who led the research.
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he global silicone coating market size reached USD 7.8 Billion in 2023 is expected to reach USD 13.22 Billion by 2033, exhibiting a growth rate (CAGR) of 5.42% during 2023-2033 according to Exactitude Consultancy. The silicone coating market key players includes Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd, Momentive, Milliken & Company, HumiSeal, CHT UK Bridgwater Ltd, Dow, Elkem Silicones, Evonik Industries AG, KCC Silicone.
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Continental Executive Board has decided, following a strategic review, to conduct a further detailed evaluation on spinning off the Automotive group sector. The aim of having two independent companies is to fully harness Continental’s value and growth potential. Following its detailed evaluation, the Executive Board will make a decision on the spin-off in the fourth quarter of 2024. Subject to the approval of the Executive Board and Supervisory Board, a spin-off and listing of Automotive would then be put to a vote by the Annual Shareholders’ Meeting of Continental AG on April 25, 2025. If approved, the plan is to complete the spin-off by the end of 2025.
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Trelleborg Tires’ Spartanburg U.S. based facility, a 40,000-square-meter production site, stands out as a clear example of how localized production has fostered favorable conditions to grow while simultaneously driving the agricultural tire market’s evolution.
It is the world’s largest agricultural arena and, since setting up operations in the U.S. in 2015, Trelleborg Tires has seamlessly assimilated into the market’s unique landscape, following the specific needs of American farmers when it comes to choosing the right tire for the job: durability and the ability to operate on wider and harder terrain, all under heavy loads.
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Chemical Concepts announced the appointment of Andrew Morris as the company’s new Chief Executive Officer, effective August 1, 2024.
In his new role, Andrew will guide the company into a new era of national expansion, focusing on innovation, geographic growth, and operational excellence. His energy, passion, and visionary leadership will play a vital role in the company’s strategic growth and development.
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Singer Industrial announces it has acquired Winnipeg-based MEP Brothers — a supplier of industrial and hydraulic hose, gaskets and environment spill response products. Terms of the transaction were not disclosed.
MEP Brothers will support Singer Industrial’s customers in the Canadian markets and will continue to be led by past owners Jeff and Jamie Gural.
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The isoprene rubber latex industry is predicted to be valued at USD 922 million by 2024. The market valuation is estimated to be USD 2,005.3 million by 2034, projected at a CAGR of 8.1% according to Future Market Insights.
The boom in demand for eco-friendly and sustainable materials fuels the adoption of isoprene rubber latex due to its renewable sourcing and biodegradability, aligning with global sustainability goals.
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India’s Automotive Tyre Manufacturers Association (ATMA) reports that June 2024 saw actual natural rubber availability at merely 30,000 tons, falling significantly short of the projected 60,000 tons.
The crisis deepened in July, with ATMA noting an almost complete halt in natural rubber sales for most of the month. This scarcity has had wide-ranging impacts across the rubber industry, affecting both small and medium enterprises as well as major tire manufacturers.
Rajiv Budhraja, Director General, ATMA, highlighted the severity of the situation, stating, “Some tire plants of ATMA member companies have witnessed production sliding over 10 per cent in July owing to the natural rubber crunch. Production planning is in total disarray.”
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Myers reports net sales were $220.2 million, an increase of $11.8 million, or 5.7%, compared with $208.5 million for the second quarter of 2023. The increase in net sales was driven by contributions from the recent acquisition of Signature Systems, partially offset by lower pricing and volumes in both the Material Handling and Distribution segments.
Gross profit increased $7.1 million, or 10.4%, to $75.5 million, driven by performance at Signature Systems, favorable product mix and lower material costs, partially offset by lower pricing and volume, as well as adjusting items related to acquisition and restructuring expenses.
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