Nynas has exited company reorganisation after Swedish courts confirmed the process is now complete following a creditors meeting. The court’s decision is effective 21 December 2020. After this, Nynas will no longer be limited by reorganisation regulations.
Scandinavian Enviro Systems (publ) and Michelin expect the final agreement regarding their strategic partnership will be reached during the fourth quarter 2020 rather than at the end of October, which Enviro previously communicated. The coronavirus pandemic is cited as the reason for the delay in negotiations.
Having exited US sanctions in May 2020, Nynas – which supplies oils to the tyre and rubber industries – has continued an eventful year by announcing significant ownership changes that put Bitumina in a commanding position amongst its shareholders.
Enviro and Michelin have extended their recently signed letter of intent regarding a strategic partnership between Scandinavian Enviro Systems (publ) and the French global tyre manufacturer until October. The original exclusivity agreement built into the initial letter of intent was due to run out on 31 July and would have meant that Enviro couldn’t co-operate with other tyre manufacturers and tyre suppliers until after this date. That too has been extended until the end of October.
GS Yuasa Battery Sales UK Ltd are pleased to announce the establishment of a new sales company to serve their Nordic and Baltic export regions. GS Yuasa Battery Nordic began trading from a new distribution centre in Jönköping, Sweden in December 2019. The creation of a new sales company and distribution centre in Sweden represents a significant investment from the battery manufacturer, as it aims to increase market share in the Nordic and Baltic regions.
The US Treasury Department’s Office of Foreign Asset Control (OFAC) has confirmed that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB, sanctions are lifted.
At the end of February, Trelleborg invited key dealers to the company’s Swedish homeland in order to further develop connections with its UK distributors and share the details of recent developments at the well-known agricultural and off-road tyre and wheel manufacturer. Tyres & Accessories spoke with Trelleborg’s Agricultural Segment Leader – EMEA, Bruce Lauder in order to find out more.
As of this month, Sumitomo Rubber Europe GmbH is operating a test track in the north of Sweden. The site will handle all snow and ice testing for Falken winter tyres intended for the European original equipment and replacement markets.
The European Commission has approved 3.2 billion euros of battery research and development support under EU State aid rules. The funding comes as the result of an Important Project of Common European interest (IPCEI) application jointly notified by Belgium, Finland, France, Germany, Italy, Poland and Sweden to support research and innovation in the common European priority area of batteries.
The Research Institutes of Sweden (RISE) and Swedish oil company Nynas AB are launching a joint research project aimed at developing a process for refining the oil that is recovered from end-of-life tyres using Scandinavian Enviro Systems AB’s recycling method. Through refining, the oil can be used for more than fuel, which both increases the value of the recovered oil and reduces the environmental impact.
Tyre noise can drain the pleasure out of driving and is often an issue when fitting low profile or wide tyres. Many manufacturers combat the problem, particularly when supplying OEM partners, by affixing sound-absorbing foam to the tyre’s inside. But now effective are such solutions? This is a question that Swedish motoring publication Vi Bilägare […]
The deadlines set out in two of the memoranda of understandings signed between Scandinavian Enviro Systems (Enviro) and firms based in Denmark, the USA and Canada last year may have passed, yet Enviro says this “will not affect the outcome of the negotiations or the possibility of opening the various plants.” The Swedish company still expects to establish joint venture tyre recycling plants with all three partners in the not too distant future.
Swedish touring car racer Mikaela Åhlin-Kottulinsky has been selected to test the new tyres Continental is developing for the Extreme E rally series. Åhlin-Kottulinsky, the first and to-date only woman to win a race in the TCR Scandinavia Touring Car Championship, will lend her talents towards the development of tyres for what Continental calls “the most extreme racing series the world has ever seen.”
Northvolt has raised US$1 billion of capital to build Europe’s first homegrown gigafactory for lithium-ion battery cells – Northvolt Ett, in Skellefteå, Sweden. At the same time, in cooperation with the Volkswagen Group, the company also announced plans to establish a second gigafactory with an intended location in Lower Saxony, Germany. The news of both factories was announced on 12 June 2019.
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