Pirelli & C. S.p.A. reported double-digit increases in operating and net profits in the first half of fiscal 2014 on the strength of above-average growth in premium tyre sales and the positive effects of efficiency measures Pirelli is implementing. Operating…
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US rubber product trade deficit increased 1.6 %
The US rubber product trade deficit grew 1.6 percent in November, following the trend for all of 2013. The shortfall for the month stood at $898.9 million, compared with $884.5 million in November 2012, according to data from the Department…
Lanxess highly specialized synthetic rubbers make shipping safe
Shipbuilding is seen as an indicator of the state of the world economy. That is why a recent report caused some excitement – it would seem that the industry is recovering. And not just in South Korea, which has occupied…
Chinese rubber machinery supplier acquired Fushun Yikesi
Chinese rubber machinery supplier Mesnac Co. Ltd. has acquired Fushun Yikesi New Material Co. Ltd., a Fushun City-based producer of synthetic rubber and resin products. Financial details were not disclosed. Mesnac said the acquisition marks a significant diversification into the…
Thai gov’t urges farmers to cut down rubber trees to shore up prices
Thailand’s military government will encourage farmers in the world’s biggest rubber producer and exporter to cut down more rubber trees in a bid to restrict supply to help shore up prices, a senior government official said on Tuesday. Global rubber…
Purchase of Pirelli steel tyre cord business approved
The European Commission has approved the proposed acquisition of the steel tyre cord business of the Italian company Pirelli by its Belgian-based rival NV Bekaert SA under the EU Merger Regulation. According to an official statement dated 31 July, the…
QDRPM partners with German rubber machinery maker
Qingdao Doublestar Rubber and Plastics Machinery Co. Ltd. (QDRPM), a fully-owned subsidiary of rubber tire and machinery maker Qingdao Doublestar, has signed a contract to partner with Harburg-Freudenberger Maschinenbau GmbH (HF). Under terms of the 10-year contract, HF will license…
BKT reports double-digit growth in sales
Agricultural tyre specialist Balkrishna Industries Ltd. reported double-digit growth in sales and earnings for the quarter ended June 30, the company’s fiscal 2015 first quarter. Pre-tax operating income jumped 22.8 percent to $40.2 million on 17.8-percent higher sales of $161.8…
CPI(M) requests to restrict rubber imports to protect farmers
The CPI(M) has urged the Centre to impose restrictions on import of natural rubber. Citing the “pathetic situation” of rubber farmers in the country, the party said unrestrained import of natural rubber into the country was a major factor in…
Kraton reports financial development for Q2
Kraton Performance Polymers, Inc. announces financial results for the quarter ended June 30, 2014. Second quarter 2014 sales revenue was $323.8 million on sales volume of 78.4 kilotons, down $10.8 million compared to sales revenue of $334.5 million in the…