Tag: rubber
Hexpol buys Preferred Compounding for $232 million
On 1 July Hexpol announced that it has acquired Preferred Compounding from the Audax Group, a US-based Private Equity firm. Preferred Compounding is described as an “advanced rubber compounder in North America”. Key markets include general industry, automotive, power and infrastructure. Hexpol paid approximately US$232 million on a cash and debt free basis. Preferred’s 208 turnover worked out as roughly US$240 million. The firm has around 540 employees in six facilities, five in the US and one in Mexico. The business will be consolidated from 1 July 2019.
India: From rubber growers to tyre makers
Rubber growers in India’s Kerala state are guarding themselves against potential slumps in natural rubber prices by forming a producer company that will manufacture tyres for two- and three-wheel vehicles. The Integrated Rubber Farmer Producer Company Ltd (IRFPC) was registered last November. The Pala-based company is being financed in part by a share float open to rubber farmers, and is also being assisted by German NGO the Andreas Hermes Akademie.
IRSG welcomes new Thai member
The IRSG has welcomed a new member, the Plastics Institute of Thailand. The Plastics Institute of Thailand is the eighth specialised network institution under the foundation development industry, ministry of industry approved by a cabinet resolution on 16 November 2010. Its goals are: Technology and management development; increasing marketing capabilities; and creating a plastic industry database.
First plenary speaker announced for International Rubber Conference 2019
The Institute of Materials, Minerals and Mining (IOM3) has announced that Professor Dr Manfred Klüppel, Head of Department Material Concepts and Modelling at Deutsches Institut für Kautschuktechnologie e. V, Germany, is the first plenary speaker announced for the 3-day global rubber conference that looks at the latest advancements in the rubber industry.
Lehigh win Circular Economy award in Davos
Lehigh Technologies has won the Young Global Leaders Award for Circular Economy SME (small to medium-sized enterprise) for The Circulars 2019, the 5th iteration of the award, in Davos at the World Economic Forum on 21 January 2019.
IRSG: World rubber demand to rise 2.5% in 2019
Global demand for rubber is expected to rise about 2.5 per cent in 2019 to more than 30 million metric tonnes, according to the International Rubber Study Group (IRSG).
China establishing rubber Free Trade Zone in Sri Lanka
China has begun establishing a rubber Free Trade Zone (FTZ) in Sri Lanka. The arrangement will help promote the country’s rubber industry and boost sector earnings. In return, China is asking for long-term access to lands and tax concessions, according to various media reports.
Berwin Industrial Polymers featured in Parliamentary Review
An important event in the diaries of both politicians and business leaders, the September release of The Parliamentary Review sees the documents highlight the best practice of organisations across the private and public sectors. The document shares some of the most forward-thinking work that has occurred in the country over the last year and is edited by former minister The Rt Hon David Curry. The 2018 edition features UK-based tyre compound supplier Berwin Industrial Polymers.
Dr Alan Muhr awarded the Hancock Medal
Tun Abdul Razak Research Centre (TARRC)'s Dr Alan Muhr, who is Head of the Engineering Design Unit, has been awarded the Hancock Medal 2018 for his outstanding service to the rubber industry by the Institute of Materials, Minerals and Mining in London (IOM3) in London.
IRSG launches ‘Women for Rubber’ competition
In parallel with the International Rubber Study Group’s (IRSG) 75th Anniversary, the association has organised a photo competition to pay tribute to women's contribution in the rubber industry. The contest is supported by Singapore Committee for UN Women and prizes are sponsored by Namazie International.
Russia, Saudi Arabia to finalize rubber joint venture by end of 2018
Russia and Saudi Arabia will finalize several joint projects by the end of 2018, Russian Energy Minister Alexander Novak recently told journalists. The projects referred to see Saudi Aramco partner with Russain firms Sibur and Novatek. The Sibur plant plans centre on a particularly significantly sized rubber factory.
Hexpol buys 80% of Mesgo for 168 million euros
On 1 October Hexpol completed the acquisition of 80 per cent of the shares of Italian compounder Mesgo Group from previous owner Francesco Caldara and co-owners. Hexpol describes Mesgo as “an industry leader in high performance elastomers as fluorocarbons and silicone”. In addition, Mesgo also specializes in conventional rubber compounds and thermoplastics. The major customer segments Mesgo focuses on are industry, consumer products, transportation and automotive. Mesgo Group reports annual turnover of around 100 million euros, with around 180 employees in six facilities.
Vietnamese tyre exports nearly US$1 billion in 2017
Vietnamese tyre exports were worth US$920 million in 2017, up 44.2 per cent from 2016. Meanwhile, local tyre production enjoyed a trade surplus of $564 million in 2017, doubling the amount gained in the previous year.
ExxonMobil opens Singapore butyl and resins plants
On 21 June 2018 ExxonMobil announced it had started production of hydrogenated hydrocarbon resin and halobutyl rubber at its integrated manufacturing complex in Singapore, the company’s largest integrated refining and petrochemical complex in the world. ExxonMobil’s new Escorez hydrogenated hydrocarbon resins plant will be the world’s largest with a capacity of 90,000 tonnes per year, and will meet long-term demand growth for hot-melt adhesives used in packaging or baby diapers. The new 140,000-tonnes-per-year butyl plant will produce premium halobutyl rubber used by manufacturers for tyres to better maintain inflation to improve fuel economy.
BKT partnering with Kultevat on dandelion rubber development
Instead of just finding dandelions growing in fields, we may soon also find them in the tyres of tractors and other agricultural vehicles that traverse these fields. Balkrishna Industries Limited (BKT) sees a future for these plants as a material within the tyres it makes; it recently entered into a joint research agreement with US biotechnology company Kultevat, Inc. to develop new compounding methods based on TKS/Russian dandelion rubber, with the aim of integrating these into its tyre manufacturing process.