Lehigh to start up European MRP plant in August

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Hanover, Germany – US-based Lehigh Technologies, which produces micronised rubber powder (MRP) from end-of-life tires is finally set to commission its first European plant.

The several-times-delayed start-up of the unit in Murillo el Fruto, in northern Spain is set for August, VP and general manager Kedar Murthy told ERJ.

Read the source article at European Rubber Journal

Toyo Tire & Rubber Co. to Change its Name

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Toyo Tire & Rubber Co.’s board of directors passed a resolution to change the company’s name to Toyo Tire Corporation, effective January 2019.

The company said the name change reflects its increasing focus on “mobility” at its core field of business, according to a press release on Supplier Insight.

Tyrepress reported that the company’s new name must be approved as a partial amendment to the firm’s Articles of Incorporation at its shareholders meeting March 29.

Read the source article at Tire Review

Maersk says to compete with UPS, Fedex as conglomerate breaks up

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COPENHAGEN (Reuters) – A.P. Moller-Maersk (CO:) plans to expand its transport and logistics business to compete directly with package delivery companies UPS (N:) and Fedex (N:) as part of a major restructuring, its chief executive said Tuesday.

Maersk, the world’s largest container shipping company, has sold off the majority of its energy assets to focus entirely on transport and logistics.

“We’re building this company that is a global integrated container business, a company very similar to UPS and Fedex,” CEO Soren Skou told investors at a capital markets day in Copenhagen on Tuesday.

The post Maersk says to compete with UPS, Fedex as conglomerate breaks up appeared first on Global Rubber Markets.

Read the source article at Global Rubber Markets News

Tyromer Brings Tire-Derived Polymer to U.S. Retreading Market

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Tyromer Inc., a scrap tire devulcanization company,  is now producing a high performance, non-chemical devulcanized rubber made from crumb or retread buffing in the United States.

Their tire-derived polymer or TDP can actually increase performance when incorporated into a pre-cure tread compound and costs less than virgin material.

Read the source article at Tire Review

Hedge fund Bridgewater makes $22 billion bet against European firms

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LONDON/FRANKFURT/NEW YORK (Reuters) – Bridgewater has shown its hand in Europe with a $22 billion bet against some of the continent’s biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world’s largest hedge fund manager.

Although data was not available to show whether Bridgewater holds more European stocks than it “shorts” overall, an investor in the hedge fund firm’s Pure Alpha Major Markets strategy said that its position was slightly net “long” on Feb. 6.

Read the source article at Global Rubber Markets News

Linglong revenue up 32% in 2017 to $2B-plus

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YANTAI, China — Linglong Group Co. Ltd.’s revenue jumped by nearly one-third this past year over 2016, according to a recent filing on the Shanghai Stock Exchange.

Read the source article at Tire Business

Menegaux to succeed Senard as Michelin CEO in 2019

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CLERMONT-FERRAND, France — Group Michelin’s board of directors is recommending Florent Menegaux, senior executive vice president and chief operating officer, to succeed Jean-Dominique Senard as CEO when Mr. Senard’s term expires in 2019.

Read the source article at Tire Business

Toyo Tires Announces Organizational Restructure, Personnel Changes

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Toyo Tire & Rubber Co. has announced changes to its organizational structure, assignments for corporate officers and personnel changes, taking effect the start of February.

Toyo’s President and CEO Takashi Shimizu said in a press release that the company changed its organizational structure to better align with its operational functions and reinforce management in each of the company’s divisions: R&D, sales, production and other corporate functions.

Read the source article at Aftermarket News

Walmart honors Giti Tire with U.S. manufacturing award

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BENTONVILLE, Ark. — Walmart Inc. has honored Giti Tire (USA) Ltd. with a U.S. Manufacturing Award that recognizes offshore suppliers that have initiated production in the U.S.

Read the source article at Tire Business

Marchionne says automakers will lose if brands are not maintained

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The term generic might imply a reasonable, cost-effective choice at the grocery store, but Fiat Chrysler Automobiles CEO Sergio Marchionne says it’s no way to think about cars. Brands matter, and they will matter even more for automakers if automation and artificial intelligence become dominant features in the auto industry as expected.

Read the source article at Detroit Free Press