Phoenix Investors Acquires Former Titan Tire Plant

MILWAUKEE , Nov. 23, An affiliate of Phoenix Investors (” Phoenix “), a national private commercial real estate firm headquartered in Milwaukee, Wisconsin , announced its acquisition from Titan International, Inc. (“Titan”) of its former plant in Brownsville, Texas . The plant is located at 6700 Paredes Line Road (“Property”) and totals approximately 1,040,000 square feet on 108 acres. The Property was originally built in 1997.

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Pyrolyx USA Indiana files for bankruptcy

Pyrolyx USA Indiana LLC Thursday filed for Chapter 7 bankruptcy — a liquidation bankruptcy — in the U.S. Bankruptcy Court District of Delaware.

The company lists debt to creditors at more than $49.9 million.

While the company lists more than $61.14 million in assets, more than $58.5 million is in machinery and equipment and land. Included in that, Pyrolyx lists the value of its plant and land at 4150 E. Steelton Drive in Terre Haute as $7,562,202, according to its bankruptcy court filing.

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Cabot Corporation Board Declares Dividend

BOSTON–(BUSINESS WIRE)–On Friday, November 13, 2020, the Board of Directors of Cabot Corporation (NYSE:CBT) declared a quarterly dividend of $0.35 per share on all outstanding shares of the Corporation’s common stock. The dividend is payable on December 11, 2020, to stockholders of record at the close of business on November 27, 2020.

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Pirelli trims margin guidance on mixed outlook

MILAN, Nov 11 (Reuters) – Italian tyre-maker Pirelli on Wednesday lowered its margin forecast for this year, citing continuing uncertainty in light of the second wave of the COVID-19 pandemic.

The manufacturer of tyres for Formula One and high-end carmakers such as BMW and Audi said the 2020 market outlook had improved in the North America and Asia-Pacific regions.

“But the outlook (is) cautious for Europe because of recent anti-COVID measures following the resurgence of the pandemic,” it said in a statement.

The group guided for a 2020 full-year margin on its adjusted earnings before interest and tax (EBIT) of 11.5-12%, against a twice-trimmed previous forecast of 12-13%, to account for the impact of exchange rates, raw materials and other costs.

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TIA Gives Legislative Update at Honors Ceremony

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The Tire Industry Association‘s Roy Littlefield III, CEO, and Roy Littlefield IV, director of government affairs, updated TIA members on key legislative issues that the organization is following for its members during Monday’s Tire Industry Honors Ceremony.

 

 
 

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DuPont sees strong annual profit as auto sector recovers, signals more cost cuts | Reuters

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Oct 29 (Reuters) – Industrial materials maker DuPont on Thursday forecast full-year profit above Wall Street expectations as it kept a tight check on costs and benefited from a recovery in the automotive industry, one of it biggest markets. The company, which makes everything from brake fluid to fabric used in protective garments, has been cutting costs to battle weak demand in several industries due to the COVID-19 pandemic.

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Michelin Revises Its Guidance for 2020 Upwards

Outlook for 2020: in a still highly uncertain environment, and taking into account the recent change in tire demand, Passenger car and Light truck tire markets are expected to decline by 13% to 15% over the year, Truck tire markets by between 12% and 14% and the Specialty markets by 15% to 19%. With these new forecasts and the cost reductions linked to the circumstances, the Group is revising its guidance for 2020 upwards, with segment operating income in excess of €1.6 billion at constant exchange rates and structural free cash flow* in excess of €1.2 billion, barring any new systemic effect** from Covid-19.

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Canada Auto Show Organizers Plan First Virtual Exhibition

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David McClean, the event’s marketing director, says the show’s host, the Ontario-based Trillium Automobile Dealers Assn., has been working with manufacturers, sponsors and exhibitors to establish an effective and interactive virtual show from Feb. 12-21.

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AirBoss Announces US$22.0 Million in Awards Across ADG’s Survivability Portfolio

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NEWMARKET, Ontario, Oct. 05, 2020 (GLOBE NEWSWIRE) — AirBoss of America Corp. (TSX: BOS) (the “Company” or “AirBoss”) today announced that AirBoss Defense Group (“ADG”) has recently been awarded an additional US$22.0 million in contracts across its survivability portfolio for multiple parties in North America and internationally.

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Ontario’s RPRA Releases 2021 Business Plan

The Resource Productivity and Recovery Authority has released its 2021 Business Plan, which outlines the Authority’s planned activities and budgets for the next three years. The plan details the Authority’s strategic priorities and the staffing and financial plans to implement directions issued by the Minister of the Environment, Conservation and Parks and fulfill its legislated mandate to reduce waste and litter through resource recovery.

Read the source article at rpra.ca