Due to the closure of its facilities in the US and Germany, against the backdrop of tighter market conditions, German tyre pyrolysis company Pyrolyx has delisted from the Australian Securities Exchange (ASX) and the Dusseldorf and Frankfurt stock markets in Germany.
Pyrolyx had in May 2020 confirmed that manufacturing at its recovered carbon black (rCB) facilities in Terre Haute, Indiana, US, and Stegelitz, Germany, remained shut. It had said that it was continuing to review operational and financial requirements to enable it to reopen its facilities.
On this basis, and given the need for the firm to preserve its remaining financial reserves, Pyrolyx said, “it is in the best interests of all security holders that PLX is removed from the official list with effect from the close of trading on Friday 28 August 2020.” The delisting in Germany was effective as of 31 August 2020.
The company added it would provide its shareholders with an update when there is progress in relation to its operational and financial position.
Pyrolyx had in 2019 entered into a five-year supply agreement with Continental AG to supply rCB to its tyre manufacturing facilities worldwide. This had followed after what Continental said was a cooperation on technology development over the last few years.