U.S.-based Huntsman Corp and Switzerland’s Clariant AG are combining to create a chemical manufacturer with a market value of more than $14 billion, they said on Monday, after years of tentative mutual approaches. The deal creates a global specialty chemicals company that is 52 percent own by Clariant shareholders and valued at around $20 billion when including debt, Clariant said in a statement.
DETROIT –launches an industry-first sustainable tire-purchasing initiative it hopes will drive the industry toward net-zero deforestation and improve human and labor rights.
“Our supplier partners are an extension of our company,” says Steve Kiefer, senior vice president-Global Purchasing and Supply Chain at GM. “We want to encourage affordable, safer and cleaner options for our customers that drive value to both our organization and the communities in which we work.”
Flanked here by executives from major tire makers Bridgestone,, Goodyear and Michelin, Kiefer says he does not expect the program to add cost to the tires.
“It should maintain or even improve our cost structure,” he says.
GM purchases an estimated 49 million tires annually and believes sourcing them sustainably has a number of community, business and environmental benefits, such as addressing climate change, improving yield and quality for natural rubber farmers and mitigating business risk by ensuring long-term availability of the material.
Transforming the global rubber and tire supply chain to create lasting, environmentally sound sustainable rubber production requires a collaborative approach. Through an industry-first commitment to sourcing sustainable natural rubber in its tires, General Motors is helping drive the industry toward net-zero deforestation and uphold human and labor rights.
With only a few companies raking in the highest revenues, the global tire cord and tire fabrics market exhibits a consolidated vendor landscape, observes Transparency Market Research (TMR) in a new report. Small players operating in the market pose considerable threat to the leading players, as they provide cheaper alternatives to products manufactured by bigger companies. Nevertheless, large players usually capitalize on supply agreements and their goodwill in the market.
The Association of Natural Rubber Producing Countries hereby releases the most updated picture of emerging developments in supply, demand and market trends in world rubber market, through the monthly bulletin “Natural Rubber Trends & Statistics” for April 2017.
… Based on the assessment, world supply of natural rubber, including supply from non-ANRPC countries, is anticipated to remain short of demand during all months up to December 2017. The shortfall is expected to progressively widen from April 2017 onwards to reach 688,000 tonnes in June 2017 before narrows down in subsequent months to reach 46,000 tonnes by December 2017.
World supply during January to April 2017 was short of demand by 466,000 tonnes, according to preliminary estimates. Despite a deficit supply, natural rubber prices have moved along a falling trajectory from February 2017 onwards largely due to factors external to the sector. Crude oil prices sharply fallen from February 2017 due to rising US shale gas output and reported failure in the effective implementation of the production curtailment programme agreed among OPEC members and major non-OPEC oil producing countries. Low crude oil prices keep sentiments down at Shanghai rubber futures and physical markets often follow suit.
The ongoing tug-of-war between natural rubber growers and consumers bears this out in ample measure.
The tussle relates to the state of rubber growers, and their claims that heightened imports have impacted domestic rubber production, which is contested by the tyre industry.
According to the latest data from the Rubber Board, natural rubber production actually increased in 2016-17 by 22 per cent over the previous year, Additionally, rubber imports declined by 7 per cent.
Rubber Board officials attributed the increased production to improved market price and the Board’s initiatives, including mass contact programmes to improve production and productivity.
The data effectively belies the rubber growers’ claims and validates the tyre industry’s diametrically opposite view.
With improving availability of natural rubber in the domestic market, there is a perceptible drop in rubber imports, says Satish Sharma, Chairman Automotive Tyre Manufacturers Association (ATMA).
“That lends credence to the tyre industry’s stand that natural rubber imports are only taking place to compensate for the domestic deficiency or in view of non-availability of certain grades of rubber on quality parameters,” he said.
ATMA also rebuts the claim that rubber imports are down because domestic prices are ruling lower than international prices.
Evonik increased sales considerably by 19 percent to EUR3.68 billion in the first three months of 2017. The main growth drivers were higher demand, which boosted sales volumes, and the first-time inclusion of the Air Products specialty additives business.
“The successful start to the year shows that we are on the right track with our growth strategy,” said Klaus Engel, Chairman of the Executive Board. “The combination of organic growth and strategic acquisitions has strengthened the company. We are on the road to becoming less vulnerable to economic cycles and having a more balanced portfolio. Demand for our specialty chemicals such as silica, coating additives and pharmaceutical ingredients boosted quarterly earnings.”
Adjusted EBITDA rose 8 percent to EUR612 million in the first quarter driven by improved results in the Resource Efficiency and Performance Materials segments. Earnings at Nutrition & Care were significantly below the prior year period mainly because of lower prices for animal nutrition products.
The fall in natural rubber (NR) imports as announced by the Rubber Board has much to do with the increased domestic availability of the commodity, according to the tyre industry. Recently Rubber Board had released fresh data for the financial year 2016-17 that showed NR imports declining by 7% as production moved up by 22% […]
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CNNMoney takes you to a factory in Jalandhar, India to see how basketballs are made from a giant piece of rubber, and then shot at an iron plate at 25 mph.
BERLIN/FRANKFURT (Reuters) – Car components maker Continental AG is set to invest an extra 300 million euros ($326 million) in electric drives by 2021 but also remains committed to its combustion-based powertrain business, the company said on Tuesday.
The world’s second biggest supplier to vehicle manufacturers by sales, Continental is also strengthening its expertise in automotive electronics as customers such as Volkswagen (VOWG_p.DE), Daimler and Ford raise their investments in electric and self-driving technologies.
By raising spending on development of new products such as charging systems and battery management components, Continental may generate an additional 2 billion euros in sales by 2025, Chief Executive Elmar Degenhart said.