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Dow announces global capacity expansion in response to growing demand for mobility technologies

key growth capital projects benefitting the mobility and transportation market. At Dow’s Jincheon site in South Korea, investments are being made to support the development of moldable optical silicone technologies for both automotive and industrial lighting applications. Additional investments are also planned this year for Dow’s operations in Midland, Songjiang and Zhangjiagang

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Bridgestone awarded Department of Energy grant for guayule rubber research

Bridgestone Americas (Bridgestone) has been awarded a research grant by the U.S. Department of Energy (DOE) Joint Genome Institute to advance its optimization of guayule, a drought resistant, desert shrub that shows promise as a new, domestic source of natural rubber for tire production. A global leader in tires and mobility solutions, Bridgestone has spent more than a decade researching guayule rubber for use in tires.

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Dmitry Konov resigns from SIBUR board due to international sanctions

Dmitry Konov has resigned from his position as Chairman of PJSC SIBUR Holding’s Management Board, from PJSC SIBUR Holding’s Board of Directors, and from the Management Boards at PJSC SIBUR Holding and SIBUR LLC.
These organizational changes are being made following Dmitry Konov’s inclusion in the EU and UK sanctions lists and are expected to improve SIBUR’s resilience as one of the fastest-growing petrochemical players in the world.

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Yokohama Rubber to acquire Trelleborg Wheel Systems business

The Yokohama Rubber Co., Ltd., announces that it has entered into a share purchase agreement with the Swedish-based Trelleborg AB to acquire all outstanding shares of Trelleborg Wheel Systems Holding AB (hereafter, TWS), a company engaged in the manufacture and sale of off-highway tires (OHT) for agricultural and industrial machinery. TWS’s enterprise value is €2,040 million (about ¥265.2 billion, at ¥130/€1; the acquisition agreement also includes a performance-linked earn-out1). Yokohama Rubber estimates that the acquired business’ EBITDA multiple will be about 9×2. The acquisition is scheduled to be completed in the latter half of 2022, after completion of necessary procedures required by the competition laws of the European Union and other countries. The acquisition’s impact on Yokohama Rubber’s consolidated financial results is currently under examination.

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