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Smithers announced that it’s reached a definitive agreement to purchase Midway Lab in Columbus, Ohio. This transaction represents Smithers intent to enter the Ohio cannabis testing market. The sale is expected to be completed in Q3 2023 subject to customary closing conditions, including regulatory approvals.

Continuing Sumitomo Rubber North America’s (SRNA’s) policy of promoting personnel from within, Rob Montasser has accepted the position of Vice President, Replacement Sales effective January 1, 2023.

First Quarter 2023 Financial Highlights include Net sales of $215.7 million compared to $225.5 million in the prior year period. Gross margin of 32.9%, up 100 basis points versus the prior year period. GAAP net income per diluted share of $0.35 compared to $0.47 in the prior year period. Adjusted earnings per diluted share of $0.38 compared to $0.50 in the prior year period. Cash flow provided by operations was $25.8 million and free cash flow was $16.7 million.

Hankook Tire & Technology (Hankook Tire) has announced sales of KRW 2,104.0 billion and an operating profit of KRW 190.9 billion based on global consolidated financial results for the first quarter of 2023. Both sales and operating profit increased by 17.5% and 51.5% respectively year-over-year (YoY

The first quarter was characterized by muted economic activity and weak demand, with customers still destocking, especially in the first weeks of the new year. Overall, sales fell 11 percent to 4.0 billion euros. Volumes declined by 14 percent. Higher prices offset some of the volumes lost and compensated for inflation effects. Earnings before interest and taxes, depreciation and amortization (adjusted EBITDA) declined by 44 percent to €409 million.

Elliott is one of Goodyear’s largest investors because it has strong conviction in the significant value-creation opportunity achievable at the Company, the letter said. Despite the Company’s strong brand, leading market share and favorable industry tailwinds, Goodyear’s stock has meaningfully and consistently underperformed. The Company’s poor stock performance is a direct result of its significant margin erosion, suboptimal go-to-market strategy, and unfocused brand strategy, which have collectively led to a loss of investor confidence, according to the letter.

Continental started 2023 with solid results, in line with its expectations. The technology company anticipates a further improvement in earnings over the course of the year, in particular due to rising production figures for passenger cars and light commercial vehicles, inflation-related price adjustments and cost discipline. As a result of inflation, the company is expected to incur additional costs in 2023 of around €1.7 billion for materials, wages and salaries as well as energy and logistics. Continental is maintaining its outlook for 2023.

Audi is factory-fitting its RS 6 Avant performance with the Continental SportContact 7 premium tires. Thanks to its outstanding characteristics, the tire has performed impressively in numerous tests and also won over the Ingolstadt-based carmaker. Continental has obtained global approval for equipping the Audi RS 6 Avant performance with the 22-inch version.

ARP Materials announced the promotion of Brian Sauers to the position of Vice President of Sales and Marketing. In this new role, Sauers will lead the company’s Sales and Marketing efforts across North America.

Leibinger introduced the world’s first intelligent coding & marking system – the IQJET – on May 3 in Düsseldorf, the day before the opening of the interpack trade show. The IQJET is ideally suited for the direct coding and marking of products and packaging. It can be used in the food and consumer goods sectors (FMCG), as well as for applications in the industrial sector