HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of specialty and high-performance carbon black, today announced that it will increase pricing for acetylene black.
Following the acquisition of its acetylene black plant in France, the company adjusted the facility’s strategic focus, requiring new investments to better serve the growing market demand for acetylene black used in lithium-ion battery production. In addition to these strategic investments, the company has also been confronted with rising costs for packaging, transportation and environmental obligations.
Against this backdrop Orion will raise its acetylene black prices by 20 percent globally on March 1st, 2021, or as contracts allow.
Read the source article at businesswire.com
“Strong end to the year – toward a better 2021”
“Like most companies in 2020, Trelleborg was impacted to a high degree by the ongoing pandemic. Priority was assigned to measures to protect our personnel, while we succeeded in offsetting the reduction in sales through a flexible cost base and structural improvements. Despite the circumstances, we were able to deliver a good result, with an improved operating margin and record-strong cash flow compared with 2019, for both the full year and the fourth quarter.
Our employees at all levels of the Group have made the best of a difficult situation and we have adapted our operations and way of working in line with the new reality in an exemplary fashion. Our decentralized approach enabled rapid operational action throughout the organization.
We closed 2020 with a strong quarter. Organic sales declined by 3 percent, meaning that demand continued to improve sequentially. We had a strong currency headwind, which accounted for a 7-percent fall in sales. Cost reductions and structural improvements during the year, combined with slightly better demand, led to the best fourth quarter to date for the Group, in terms of both EBIT and operating margin. This favorable result was achieved despite a negative currency impact on EBIT amounting to SEK 96 M. Cash flow was even stronger, namely the strongest ever for a single quarter.
That said, we continued to be affected by the Coronavirus pandemic. Local outbreaks…
Read the source article at news.cision.com
If you’ve read this column for any length of time, then you know I am obsessed with the fact that tires are agricultural products. Natural rubber is a key component in every tire, some more important than others. Without it, tires will not be able to perform at the same level. I’m not a chemist or an engineer, so my knowledge of rubber compounding is rudimentary at best, but I know enough to know that nothing is more effective than natural rubber for certain performance characteristics. According to the U.S. Tire Manufacturers Association (USTMA), natural rubber comprises 34% of a truck tire, which is the most of any raw material or component. Passenger and light truck tires are 19% natural rubber, so the price of tires can be linked to the price of rubber.
Read the source article at Fleet Owner
Japanese tire manufacturer Yokohama Rubber’s domestic tire mold production subsidiary Yokohama Mold is to expand production capacity at its Thai production facilities (YMTC).
The company states that the capacity expansion is aimed at strengthening the group’s supply chain in the ASEAN region. Construction of the new facilities began in January 2021, with completion planned for the end of this year.
Read the source article at Tire Technology International
Toyo Tire Corp. posted net sales and operating income losses during 2020. The company’s sales declined 8.9% from 2019 levels and its operating income fell 5.5% versus the previous year.
Specifically, Toyo’s tire business unit experienced a decline of 7.9% in sales versus 2019 levels. (The company also has an automotive parts business unit, which suffered a decline in sales during 2020, as well.)
Read the source article at Modern Tire Dealer
Yves Chapot, chief financial officer at Michelin, discusses the company’s full-year 2020 results.
Read the source article at MSN.com
Langley, BC (February 15, 2021) Yokohama Tire (Canada) Inc. has announced price increases for its commercial, OTR and consumer tires sold in Canada.
Prices will increase up to 5% with variances by segment and business channel. Commercial and OTR tire price increases will be effective March 1, 2021 with consumer tire price increases effective April 1, 2021.
About Yokohama Tire (Canada) Inc.
Yokohama Tire (Canada) Inc. markets and distributes a full line of tires for high performance, passenger car, light truck, and commercial truck applications, as well as off-the-road tires for mining, forestry and construction applications. It maintains distribution centers across Canada to serve more than 1,000 independent tire dealers and well over 3,000 retail locations. yokohama.ca/.
Brand Development Manager Susan Elliott
Yokohama Tire (Canada) Inc. Elliott, Clark Communications, Inc.
1-800-810-9656 x1303 905-833-0826
Cabot Corporation CBT recorded a profit of $60 million or $1.06 per share in the first quarter of fiscal 2021 (ended Dec 31, 2020) compared with a profit of $41 million or 70 cents per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were $1.18 in the reported quarter, up from 69 cents in the year-ago quarter. The figure topped the Zacks Consensus Estimate of 87 cents.
Read the source article at nasdaq.com
Global leading tire company Hankook Tire is further driving its digital transformation by partnering with the leading analytics platform, Tableau Software. Through this partnership, Hankook will be equipped with advanced data analytics and agile user interface platform for next generation business intelligence.
Read the source article at apnews.com
DAYTON, TENN. (AP) — Nokian Tyres says it plans to add 150 jobs in the first half of this year at its Tennessee factory.
The Finland-based company says that it is looking for workers at its Dayton facility in mixing, tire production, maintenance and logistics areas, and those interested in general factory overhead and quality control.
Read the source article at usnews.com