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Covestro AG signed an Investment Agreement with certain entities of the ADNOC Group, including ADNOC International Limited (“ADNOC International”) and its subsidiary, ADNOC International Germany Holding AG. The agreement stipulates, among other items, that the Bidder will make a public takeover offer for all outstanding shares of Covestro at a price of €62.00 per share. In addition, ADNOC International is committing itself to fully supporting the Company’s “Sustainable Future” strategy. At the same time, the Board of Management and the Supervisory Board of Covestro decided today that upon completion of the transaction, the Company’s share capital shall be increased by 10% (18.900.000 shares) and that, at and subject to closing, the new shares shall be issued to the Bidder against payment of a price per share equal to the offer price, thus, based on an offer price of €62.00 against a total amount of €1.17 billion, under simplified exclusion of subscription rights.

Continental has been recognized by US magazine Time and the global data and business intelligence platform Statista as one of the 500 most sustainable companies in the world for 2024. This assessment is based on a special methodology developed by Time and Statista. They evaluated a total of 5,000 companies based on their sustainability strategy and reporting, as well as more than 20 key indicators, including emissions intensity, energy consumption and share of renewable energies. Continental achieved a rating of 61.39 out of a possible 100 points, placing it 265th in the ranking. In the category of the automotive industry, the company is one of the top 10 companies. A total of three tire manufacturers are among the world’s 500 most sustainable companies. Continental is ranked second place.

The Rubber Division, ACS announces the following learning opportunities.

October 3 – Course: Dynamic Viscoelastic Properties
October 9 – Webinar: Fundamentals of Machine Vision for the Inspection of Rubber Seals
October 10 – Course: Rubber Extrusion Technology
October 21-25 – Endurica Workshop: Characterizing Elastomer Fatigue Behavior for Analysis and Engineering
November 13 – Course: Processing & Testing of Rubber
November 14 – Webinar: The Value of Mentorship
November 19-22 – Endurica Workshop: Application of Rubber Fatigue Analysis with Endurica Software
December 10 – Webinar: Gear Pump Technology in Rubber Application

Researchers from Texas Tech University’s Davis College of Agricultural Sciences & Natural Resources have joined with three other institutions as part of a National Science Foundation (NSF) Engineering Research Center (ERC).

The NSF ERC for Transformation of American Rubber through Domestic Innovation for Supply Security (TARDISS), led by Ohio State University, has been granted $26 million in federal funding. The aim of TARDISS is to bridge engineering, biology and agricultural fields to revolutionize and explore alternative natural rubber production from domestically grown crops.

The Indian Rubber Gloves Manufacturers Association (IRGMA) has petitioned to the Union Minister of Environment, Forest & Climate Change Mr. Bhupender Yadav to take action against Mun Health Product (India) Pvt Ltd, a subsidiary of Hartalega, a publicly listed company in Malaysia, for importing banned chlorinated gloves into the country through various ports.

In their strongly worded letter, the association requested the Union Government to prevent Hartalega, one of the largest manufacturers of rubber gloves, from dumping chlorinated gloves in the country through its subsidiaries. “At the port of entry, they mislabel chlorinated gloves as permissible imports, which are then sold to hospitals as medical gloves,” said IRGMA.

Brussels, Belgium – Bridgestone has been selected by Audi to develop custom ultra-high-performance tires for the new Audi e-tron GT

Continental invests into its first fully owned tire distribution center in the U.S., in the Dallas-Fort-Worth-Metroplex. With the new facility, Continental Tires the Americas is improving both service levels and customer support even further. Designed with future expansion in mind, the distribution center is planned to feature modern technologies and align with the companies’ long-term sustainability goals. Construction of the new distribution center will commence in September 2024. It will have a capacity to store more than 800,000 tires. Operations are scheduled to start in 2026. The facility will initially span 753,000 square feet, with the potential to expand to 1,255,000 square feet. The location was selected based on a comprehensive network study by Continental that identified the Dallas-Fort-Worth area as a key distribution hub for the premium tire manufacturer. To this day, Continental serves the U.S. market through seven distribution centers.

The Rubber Division, ACS would like to remind you that its next WOMEN OF OUR INDUSTRY event is on October 2, 12 p.m. – 1 p.m. ET. This WORD Conversation’s featured guest is Marjolein Groeneweg. This WORD Conversation begins with open networking for approximately 10 minutes followed by a conversation between our featured guest, Marjolein Groeneweg, Global Marketing Director, Synthetic Rubber at Synthos, and Gail Reader, Founder/Director at Rubber Heart.