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CEAT, an RPG company and Michelin, the global leader in tires, announced that they have entered into a definitive agreement for CEAT to acquire Camso brand’s Off-Highway construction equipment bias tire and tracks business from Michelin in an all-cash deal valued at about $225 Mn. The transaction will include the business with revenues of around $213 Mn for CY 2023 and global ownership of the Camso brand along with two state-of-the-art
manufacturing facilities.

Petlas Tire Corporation announced the launch of its latest innovation in trailer tires, the NZ310. Engineered to meet the demands of both regional and long-haul applications, the NZ310 combines advanced durability with fuel-efficient performance, making it the ideal choice for the modern transportation industry.

Continental announced the X-LifeTM XCP5 hose, a new flexible braided hose for high-pressure hydraulic applications requiring extra abrasion resistance. The hose is part of the company’s initiative to offer a premium braided hose portfolio that is also ISO 18752 compliant.

The new X-Life XCP5 is designed as a premium hose with braided construction for high-pressure applications and further demonstrates Continental’s commitment to becoming the innovation leader and full range supplier of hydraulic hoses.

H.B. Fuller Company announced that it will reorganize the building and construction segments of its portfolio to create a faster growing solutions business with a complementary customer base across the architectural and infrastructure markets. The reorganization includes the sale of the Flooring business as well as combining the company’s Insulated Glass, Woodworking, and Composite segments, currently part of Engineering Adhesives, with its Roofing and Building Envelope and Infrastructure (BE&I) segments to form a newly named Global Business Unit (GBU): Building Adhesive Solutions (BAS), effective with the start of H.B. Fuller’s 2025 fiscal year.

India’s manufacturing growth slowed in November, marking its weakest level in 11 months due to price pressures and softer domestic demand. The HSBC India Manufacturing Purchasing Managers Index (PMI), compiled by S&P Global, recorded a reading of 56.5 for November, down from 57.5 in October and matching September’s level. Although the PMI remained above the 50-point threshold indicating expansion, it was below the preliminary flash estimate of 57.3, reflecting a more subdued rise in factory orders and production. Input costs rose at their fastest pace since July, driven by higher prices for chemicals, cotton, leather, and rubber.

As CFO of Smithers, Spitz is responsible for overseeing the global financial and legal operations, leading initiatives to improve financial efficiency and supporting Smithers strategic growth objectives.

With over twenty years of executive experience, Spitz brings a growth-oriented mindset and a wealth of expertise in financial management and strategic planning. His insights and guidance have been instrumental in various board roles, where he provided valuable financial direction.

Rubber successfully showcased its latest tire innovations at the SEMA Show 2024 in Las Vegas, with the North American debut of its WESTLAKE Gen II Truck Tires and new additions to the ARISUN PCR lineup.

Zeon Corporation through its venture capital arm Zeon Ventures Inc. (California, U.S.A.; representative: Yoshihiro Kagawa), has invested in Type One Energy Group, Inc. (Type One Energy), a U.S. startup that develops stellarator fusion devices that use high-temperature superconducting
magnets.