Completing merger is just the start for PSA, FCA

PARIS — When Carlos Tavares takes charge of a combined PSA Group and Fiat Chrysler Automobiles this year, he will quickly need to revive the automakers’ fortunes in China, rationalize a sprawling global empire and address massive overcapacity. Tavares has proved his credentials by turning around PSA but he will face an even bigger challenge once the automaker merges with FCA to create Stellantis.

Read the source article at Automotive News Europe

Kingspan, Standard Industries Vie for Bridgestone Unit

Kingspan Group Plc of Ireland and Standard Industries Inc. are among the final bidders competing for a unit being sold by Japanese conglomerate Bridgestone Corp., according to people with knowledge of the matter.

Carlisle Cos. has also been considering an acquisition of Firestone Building Products, said the people, who asked not to be identified because discussions are private. A winner could be selected in the coming weeks, the people said.

Read the source article at Bloomberg.com

AirBoss Announces Acquisition of 100% Ownership of Airboss Defense Group

NEWMARKET, Ontario, Oct. 26, 2020 (GLOBE NEWSWIRE) — AirBoss of America Corp. (TSX: BOS) (the “Company” or “AirBoss”) today announced that it has acquired the 45% minority interest in AirBoss Defense Group (“ADG”) that it does not currently own from Critical Solutions Holdings, LLC (“CSH”) (the “Transaction”). All figures USD unless otherwise noted.

Read the source article at Send Press Releases with GlobeNewswire

Sustainable rubber ingredient maker Bolder in talks to go public: sources

(Reuters) – Bolder Industries has signed a letter of intent (LOI) to merge with blank-check acquisition company GigCapital2 Inc GIX.N in a deal that would take the U.S. sustainable rubber ingredient manufacturer public and value it at close to $900 million, including debt, people familiar with the matter said on Monday.

It would be the latest deal by a blank-check vehicle, or special-purpose acquisition company (SPAC), for an environmentally focused business, following mergers for bioplastics company Danimer Scientific and Agricultural technology firm AppHarvest.

Read the source article at Reuters.com

Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion

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Japanese tyre and rubber manufacturer Yokohama is planning to invest into and even buy Prometeon, the new name for the former Pirelli commercial and industrial tyre manufacturing operation, according to a range of sources. Tyres & Accessories first heard this news in July and then the Italian financial press subsequently suggested that Prometeon’s shareholders were considering restructuring Prometeon’s ownership. Yokohama is understood to be leading the suitors.

Read the source article at Tyrepress

CHASM Advanced Materials and Birla Carbon Sign Strategic Partnership

Birla Carbon, a leading global manufacturer and supplier of carbon black, and CHASM Advanced Materials Inc., a leading developer and manufacturer of proprietary advanced materials hybridized at the nanoscale, have elevated their joint development agreement into a strategic partnership to commercialize novel nanomaterials to benefit various market segments including high-performance tires, conductive plastics, novel coatings, and next-generation batteries.

Read the source article at prweb.com

Bridgestone Acquires iTrack Solutions Business from Transense Technologies

TOKYO (June 25, 2020) – Bridgestone Corporation (Bridgestone) announced it has completed the purchase of the iTrack Solutions Business from UK-based Transense Technologies PLC (Transense).

iTrack is a globally-preferred provider of tire management solutions for the off-the-road (OTR) vehicle market. The business offers a comprehensive tire pressure monitoring system (TPMS) specially designed for mining tires. In addition to tire temperature and pressure monitoring, the iTrack tire management platform provides customizable geofencing, speed alerts and more to help mining customers optimize their operations for increased productivity and profitability.

Read the source article at Bridgestone Global Website

Cooper Standard Agrees to Divest Certain Operations in Europe and India

NORTHVILLE, Mich.May 8, 2020 /PRNewswire/ — Cooper-Standard Holdings Inc. (NYSE: CPS), a leading global supplier of sealing, fuel and brake, and fluid transfer systems for transportation and industrial markets, today announced it has signed an agreement to divest its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations, to Mutares SE & Co. KGaA.

“This transaction, when closed, will enable us to focus company resources on our businesses that provide the greatest opportunity for growth and profitability,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “It is consistent with strategic initiatives that we have discussed for the past several quarters, and we expect it will be immediately accretive to our earnings and cash flows going forward.”

Read the source article at PR Newswire

Mechanical Rubber acquires Durox in Ohio

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WARWICK, N.Y.—Mechanical Rubber, a supplier of custom rubber and plastics products for the aerospace, defense, health care, transit and commercial industries, has acquired Durox Co. in Strongsville, Ohio, a company formerly owned by Pittsburgh-based Wabtec Corp.

Read the source article at Rubber and Plastics News

Kraton completes sale of Cariflex business

Houston, Texas – US polymer group Kraton Corp. has completed the sale of its Cariflex polyisoprene products business to Daelim Industrial Co. Ltd. for $530 million (€467 million) cash, the company announced 6 March.

The sale of Cariflex to Daelim was disclosed 30 Oct, eight months after Kraton said it was considering the possibility of divesting Cariflex.

Read the source article at European Rubber Journal