In a sharply deteriorating market environment, German technology firm Continental says it has managed to achieve its adjusted targets for fiscal 2019, as the Hanover-based company chalked up sales in the past fiscal year of EUR44.5 billion (2018: EUR44.4 billion), while the adjusted…
Category: Industry News
Pirelli hit by Covid-19; slows down production in Italy
Italian tyre maker Pirelli has become the latest “victim” of Covid-19. It says that an employee at its Settimo Torinese factory has been confirmed by healthcare authorities of having tested positive for Covid-19. To safeguard the other employees, Pirelli says…
Apollo Vredestein to “refocus” Dutch tyre plant operations and cut 750 jobs
Apollo Vredestein, a Netherlands-based tyre manufacturer acquired by India’s Apollo Tyres, is planning to phase out certain product lines related to high-performance passenger and farm tyres in Enschede, in eastern Netherlands, to ensure continued sustainability of its manufacturing operations. The…
Elysium Nordic gains environmental approval for pyrolysis plant development
The Danish company Elysium Nordic, which intends to establish a material recycling plant based on Enviro Systems’ pyrolysis technology, has recently been granted an environmental permit by the Teknik-og Miljøafdelingen in Nyborg Municipality, Denmark. Scandinavian Enviro Systems has been duly…
Orion’s rubber black earnings fall in Q4/2019, reflecting low demand
Weak demand in the tyre and mechanical rubber goods (MRG) industries has diminished business by worldwide supplier of specialty and high-performance carbon black, Orion Engineered Carbons (Orion). The company’s net sales decreased 19.8% year-on-year to US$207.7 million in the last…
Sailun earmarks US$286 mn to expand TBR capacity in China
Chinese tyre manufacturer Sailun Tires (Sailun) has set aside US$286.4 million as it plans to build new production facilities for its truck and bus radial (TBR) tyres at an existing site in Liaoning, Shenyang province. The 114,000 sqm. project will…
Semperit plans strategic realignment; to “transform” into an industrial rubber specialist
Rubber manufacturer Semperit Group (Semperit) is to focus on becoming an industrial rubber specialist as it sees “higher earnings and profitability potential” within the industrial sector. However, Semperit will also separate from its medical business due to the increased investment…
Linglong Tire’s SSE placement to raise funds for Hubei plant
Chinese tyre manufacturer Shandong Linglong Tire (Linglong) plans to raise up about US$289 million for its ongoing Jingmen project in Hubei province, China, through a public placement on the Shanghai Stock Exchange (SSE). The Jingmen project is the company’s fourth…
Global volume demand for rubber processing chemicals to expand 4.2%/yr by 2023
The rising standards for tyre lifespans and the popularity of tyres for use in a wide range of conditions will support a steady increase in antidegradant parts-per-hundred-rubber (PHR) rates, and subsequently the global volume demand for rubber processing chemicals, which…
Wacker’s 2020 cost-saving effort to also see 1,000 jobs slashed
Following Wacker Chemie’s (Wacker) reported loss of US$680 million in its preliminary figures for 2019, the international chemical company has planned a restructuring programme called “Shape the Future,” which is aimed at saving nearly US$270 million each year and will…