Canadian RubberSource Launches Global Growth Initiatives

CAMBRIDGE, ONTARIO (PRWEB) JUNE 16, 2020: RubberSource’s first growth initiative was to expand sales and warehouse facilities to support their planned growth. November 2019 marked the opening of RubberSource Europe, with a sales office in Germany and a warehouse in Poland positioned to supply Europe, Africa, Middle East, and China.

RubberSource’s Canadian headquarters, located within 200km of 4 U.S./Canadian borders, has also expanded to serve the Americas. Soucy-Techno – Rubbersource’s manufacturing partner based in Sherbrook, Quebec – has a new, fully integrated and automated manufacturing process at their ISO 9001:2015 certified state-of-the-art manufacturing facility. Soucy-Techno has also recently expanded its warehouse to 3,300 m2 to address the increased demand. RubberSource consistently maintains 200 rolls of rubber in inventory and can manufacture any other requirements in less than 2 weeks, quite often in 3-5 business days.

The second initiative is…

Read the source article at prweb.com

Menegaux: Further Michelin and Continental JVs and acquisition collaborations ‘possible’

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Michelin CEO Florent Menegaux has suggested about further collaboration with fellow leading tyre manufacturer and automotive supplier Continental. The French and German companies have cooperated on the Eurofit wheel business since the 1990s and entered into the Rubberway supply chain joint venture in September 2019.

Read the source article at Tyrepress

Parts maker Visteon expects global auto output to plunge up to 25% – Reuters

(Reuters) – Major auto parts supplier Visteon Corp (VC.O) on Thursday forecast global production volumes for the auto industry to fall between 20% and 25% this year and warned it would be a couple of years before they returned to 2019 levels. The U.S. auto industry has been struggling to recover after the coronavirus pandemic shutdown factories and disrupted global supply chains for two months.

Read the source article at reuters.com

Hankook Tire to Equip the All-New 2021 Chevy Trailblazer with Kinergy GT

NASHVILLE, Tenn., June 15, 2020 /PRNewswire/ — Leading global tire maker Hankook Tire will supply Chevrolet’s All-New 2021 Trailblazer with its all-season tire, Kinergy GT (H436). The Trailblazer RS will be equipped with Kinergy 225/55R18H, and for the ACTIV trim level, Hankook will…

Read the source article at PR Newswire

Cimcorp separates tyre and warehousing sales teams

Finnish automated equipment specialists Cimcorp has separated its tyre manufacturing and warehousing/distributions sales teams due to increased demand. The new structure of system sales at Cimcorp’s headquarters, which is effective from the beginning of June, is designed to “support the company’s growth and form the basis for…continuing development”.

Read the source article at Tyrepress

NR supplier Halcyon Agri, WWF to set up rubber trust fund

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SINGAPORE — Natural rubber (NR) supplier Halcyon Agri Corp. Ltd. and World Wildlife Fund (WWF) are joining hands to set up a “rubber trust fund” (RTF) to help enhance the sustainability of natural rubber. Supported by the Conservation Finance Alliance (CFA) Incubator grant, the two parties will develop a “first-of-its-kind financial mechanism model” that will […]

Read the source article at Global Rubber Markets News

EU Automotive Suppliers Outlook Worsens Considerably, Latest Survey Shows

A survey of automotive supplier companies in Europe to gauge the impact of the COVID-19 crisis shows that the sector’s outlook has worsened considerably over the past weeks.

Over 90 percent of businesses expect a drop in revenue in 2020 of at least 20%, up from 60% in March. 35% percent expect a reduction of more than 30%. Profitability will take an even harder hit, with more than half of respondents now expecting to make a loss before taxes. The perspective of a quick recovery worsened significantly as well. Three out of four businesses fear that it will take more than a year to recuperate, whereas 4 weeks ago the consensus tended towards 6-12 months. One third of respondents counts with a timeframe of 2 to 3 years.

Read the source article at – CLEPA

Orion reports sharp declines in rubber black sales

Houston, Texas – Orion Engineered Carbons has posted decreases in first quarter rubber black sales and volumes and expects a larger Covid-19 impact on the segment in the second quarter.

Rubber carbon black volumes decreased by 11%, year on year to 177 kilotonnes, over the three months to end of March, due to “a sharp decline” in sales as tire and auto manufacturers idled plants from mid-March.

Read the source article at European Rubber Journal

Ryder picks Goodyear as tire supplier

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Fleet management company Ryder System has picked Goodyear as its preferred North American tire supplier from January 1, 2021.

The partnership will provide fleets with tires, with Ryder’s 800 service and maintenance locations across the USA and Canada working with Goodyear’s 2,300 locations.

Read the source article at Tire Technology International

Orion Engineered Carbons S.A. Announces First Quarter 2020 Financial Results

HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons S.A. (NYSE: OEC), a global supplier of specialty and high-performance carbon black, today announced its first quarter 2020 financial results.

First Quarter 2020 Highlights

  • Rapidly implemented business continuity plan and took actions to protect our employees and our production capability, support our customers, ensure supply chain stability and enhance our financial standing
  • Enhanced financial flexibility by suspending dividend and bolstering cash position
  • Net sales of $336.0 million compared to $384.7 million in the first quarter of 2019
  • Net Income of $18.0 million and basic EPS of $0.30 compared to $19.0 million and $0.32 in the first quarter of 2019
  • Adjusted EBITDA1 of $63.8 million compared to $64.6 million in the first quarter of 2019
  • Adjusted Net Income of $26.6 million and Adjusted EPS1 of $0.44 compared to $23.8 million and $0.40 in the first quarter of 2019
  • Leverage ratio of 2.49x LTM Adjusted EBITDA compared to 2.28x at year-end 2019

Read the source article at businesswire.com