ERJ Business Briefing

Tracking significant market and commercial developments within the international tire and rubber industries:

Kordsa on 4 March reported that its subsidiary PT Indo Kordsa's plant was impacted by flooding in Bogor, Indonesia. As a result of the incident, “all of the company's production operations had to be temporarily stopped,” leading to the imposition of force majeure measures for customers and business partners. Kordsa has yet to issue an update on the situation at the plant which produces polyamide yarn, polyester yarn and tire cord.    

Biesterfeld AG has received additional sales mandates for BASF's Elastollan thermoplastic polyurethane elastomers to cover Denmark, Norway, Sweden, Finland, and the Baltic States. With the additional countries, the German distributor now holds distribution rights for the entire EMEA region, excluding the British Isles. Read more

Michelin and three French trade unions (CFDT, CFE-CGC and SUD) have signed an agreement concerning support measures for employees at the Vannes and Cholet sites, which are being closed down (ERJ report). Measures include internal mobility within the group, end-of-career termination, transition to retirement, and external mobility options, Michelin said 24 March.

Linglong Tire has opened its first overseas 'training centre' in Thailand in partnership with Sanguan Yangyont Chumphon Co. Ltd. The unit will support the group’s training and support activities for dealers and customers, Linglong said 24 March. Facilities include a training area, conference rooms, and “fully equipped” workshops and a service area.  Read more

Hana Technologies said it has become the first RFID company to join the Circular Rubber Platform initiative. The company has been producing RFID tags for tires since 2005. It devices can be embedded in tires during manufacturing. Hana said the tags, enable full lifecycle traceability and will be “essential” for the circular economy of tires.

Michelin is relocating its UK head office to Keele University’s Science and Innovation Park, near Stoke-on-Trent, England. Members of Michelin’s UK commerce and group services teams will operate from the new office. The campus, noted Michelin, has been recognised for its environmental sustainability.

Bridgestone Corp. is raising the prices for its commercial tires in Japan, in response to “soaring” raw materials and logistics costs. Products affected include summer and winter tires, tubes and flaps, which will see price hikes of 6-8% depending on the product. Price increases for summer tires will take effect 1 June, while winter tire hikes start on 1 Sept.  Read more

Tire trade and aftermarket expos The Tire Cologne (TTC) in Cologne, Germany and Autopromotec in Bologna, Italy, have “once again coordinated their dates.” TTC will take place in even years, Autopromotec in odd years “to avoid overlaps and be able to optimally use the market potential of both events,” the organisers stated.

JFE Steel Corp., Mitsubishi Gas Chemical, and Mitsubishi Chemical Corp. have signed an MoU to establish a demo project to produce methanol from by-product gases emitted during steel manufacturing processes and further use the methanol to produce propylene, as a feedstock for polymer production. Located at the Mizushima complex in Kurashiki City, Okayama, the project is slated to begin in 2026.

TUV Rheinland is expanding its testing capacity worldwide to meet the growing global demand for testing services related to PFAS. The move is in response to an increase of over 30% year-on-year in demand, according to a 20 March statement from the German firm.  Read more

Biesterfeld has signed an agreement to distribute biodegradable waxes and synthetic waxes made by Deurex AG across Europe. The products are used in the rubber and cable industry. The two companies began their partnership last year, with Biesterfeld winning the distribution rights to supply Deurex biodegradable waxes and polyethylene waxes in DACH, Italy and France.  Read more

Hutchinson SA staged an open day at its new Chennai plant in India, attended by 82 participants from 35 companies, the French rubber-based parts & systems maker said 14 March. The event “spotlighted the group’s expertise in anti-vibration systems, sealing solutions and power transmission systems.” Participants were able to visit the plant, check out Hutchinson’s latest innovations and talk with the senior management team. During the open day, Hutchinson India MD Joshua Solomon “underlined the group’s commitment to innovation and sustainability.”

Aeolus Tire recently held its first Thailand truck & bus tire dealer conference and NEO series product launch conference in Bangkok, parent group Sinochem reported 12 March. The event, it said, attracted more than 40 industry guests including nine regional dealers, end-user representatives and importers from all over Thailand. At the conference, Aeolus released its brand promotion plan for truck and bus tires in Thailand. During the launch of the new NEO series, “partners signed multiple orders on the spot,” added Sinochem.

Thailand's Sri Trang Group on 26 Feb launched an ‘AI direction 2025” initiative with a presentation outlining strategies for leveraging AI and digital tools to enhance operational efficiency. The plan encompasses “utilising AI for data analysis to assess rubber production across different regions, optimising manufacturing processes, managing energy consumption within factories, and aligning inventory management with market demand.” 

In Germany, over 77k employees and supporters representing energy-intensive industries, including chemicals and polymers, took part in a nationwide ‘day of action’ to protest against ongoing threats to industrial jobs. Unions IG Metall and IGBCE together called on “politicians and employers to stop job cuts in industry, to get Germany's most important guarantor of prosperity back on track, to reduce competitive disadvantages and to invest massively in the modernisation of the location.” The protests took place 15 March in Hanover, Cologne, Frankfurt, Leipzig and Stuttgart.

Sri Lanka's export earnings from 'rubber and rubber finished products' decreased by 8.15 % y-o-y to US$75.06 Mn in January 2025, the Sri Lanka Export Development Board reported 26 Feb. The poor performance included a sharp drop in exports of 'pneumatic & retreated rubber tyres & tubes' (-33.71%). Furthermore, exports of 'pneumatic & retreated rubber tyres & tubes' to the US fell 31.7% in January 2025 compared to January 2024.

UK pigments and additives producer Venator has launched a digital product carbon footprint (PCF) platform.  The Eviden platform, it said, provides: “Full automation of the PCF calculation for Venator's extensive product portfolio and enables Venator to deliver accurate data on the carbon footprint of its products to its customers. Developed with BASF, the system is “based on life cycle assessment methodology and calculates cradle-to-gate PCF,” added Venator.

American Tire Distributors has completed the sale of substantially all of its assets to a buyer entity formed by certain of its existing lenders. To be led by Ira Silver, the newly formed company will take over immediately “under the ownership of well-capitalised investors dedicated to achieving long-term success.”  Read more

Some 19 Michelin finance-related jobs are being moved from France to Romania, according to a recent announcement by trade union CGT Michelin. The relocation, said the union, will be effective as of January 2026. The French employees, it added, have been asked to help train their Romanian colleagues.

Indian tire maker Ceat has set up a Sri Lanka subsidiary – Ceat OHT Lanka (Private) Ltd – with a capital of LKR150m (€470k) to expand its off-road activities in the country.

Avon Technologies’ helmet specialist Team Wendy Ceradyne has received a delivery order worth $17.6m from the US Army under the “next generation integrated head protection system (NG-IHPS) helmet contract.” The order, said CEO Jos Sclater, “adds to our strong order book and demonstrates the continued good demand from the US DoD.” Avon, he added, would continue to focus on ramping up production at its Cleveland factory to support our DoD programmes.

Evonik has announced a comprehensive suite of Purocel products and catalysts technologies that improve the quality of pyrolysis oil, driving greater circularity for plastics. The series of adsorbents, hydrotreating catalysts and a modular polishing unit expand the company’s pyrolysis oil capabilities. The latest offerings “effectively reduce chlorides and remove other contaminants from pyrolysis oil”, stated Evonik.

Zeon Trading (Shanghai) has reached an agreement with Zhuhai Chenyu New Material Technology to set up a joint sales venture for anode binders used in lithium-ion batteries. The company is scheduled to be established at the end of April and will have the exclusive sales rights in China for products manufactured by Chenyu under licenses granted by Zeon.

The number of natural rubber growers in Malaysia is declining but action will guarantee the product’s status as a key commodity crop continues, says the government. Rural and regional development deputy minister Datuk Rubiah Wang said steps would be taken via the country’s Rubber Industry Smallholders Development Authority.  Read more

Shares in Indian tire maker MRF Ltd rallied slightly after reaching a new 52-week low. On 28 Feb, these closed on Rs105,373, having earlier dropped to Rs 03,899, with commentators noting a past year decline of more than 28%. In Q3/24, the manufacturer reported a 13.6% increase in revenue to Rs7,001 crore (€770m). Despite this, net profit declined 38%, largely due to an uptick in raw material costs, especially rubber.

Fitch Ratings has upgraded Michelin’s 'long-term issuer default rating' (IDR) rating from ‘A-’ to 'A', with a stable outlook. The 21 Feb decision, it said, “reflects Michelin’s strong free cash flow generation despite challenging end-markets. Michelin’s business profile is one of the strongest amongst peers, with revenues primarily stemming from replacement demand and a diversified footprint that mitigates threats from tariff wars and industry cycles.”

The Woodlands, Texas-based Kraton Corp. has announced a general price increase of up to 25% on turpentine refined products and derivatives, and 25% and higher on limonene based derivatives. The increase will be effective 1 April and/or as contracts allow.

Hamburg, Germany-based plastics & elastomers supplier Albis has opened a new subsidiary in Tangier, Morocco to strengthen its position in North African markets. The formation of ‘Albis Maghreb’ in Tangier’s free trade zone follows the launch of “Albis Morocco” in 2023. We are implementing our strategy of offering our customers in the Maghreb region even better service and increased technical support,” said Horst Klink, CEO of Albis.

SK Chemicals is establishing its first depolymerisation-based recycling unit in Korea. The ‘recycle innovation center’ (RIC) at its Ulsan plant will feature new pilot facilities for the chemical decomposition of waste plastics to produce recycled BHET feedstock for copolyester production. Due on-stream in 2026 with an annual production capacity of 50 tons, it will process difficult-to-recycle waste such as textile garments comprising many different types of materials.

Hankook has broken ground on the expansion of its European production plant in Rácalmás, Hungary, the tire maker announced 26 Feb. The building phase, which is scheduled for completion in 2027, will culminate in a new production line for truck and bus tyres at the site, with a capacity of up to 800k units/year. In the future, the new facility will produce tires for long-haul and mixed application, as well as for electric commercial vehicles. Read more

Flexitallic and Finland-based TT Gaskets are to collaborate on jointly growing business in the new-energy sector of northern Europe. The Nordic and Baltic regions will be the focus for customised solutions in hydrogen, fuel cells, carbon capture, geothermal, and wind technologies.  Read more

Yokohama India has expanded its range and size of locally-manufactured tires at its Bahadurgarh factory, in response to new demand. With the consumer market for premium cars and SUV growing, the subsidiary has now begun production of 20" tires. The firm said it has the capacity for handling larger sizes, up to a maximum of 24". Read more

Malaysian natural rubber (NR) production increased 24.6% year-on-year in the final quarter of 2024 to 117,000 tonnes, according to recently issued official figures. Sequentially, NR output increased by 10.7% in the fourth quarter, up from 105,715 tonnes reported in the previous three months, said a 13 Feb statement by the Department of Statistics Malaysia. NR exports amounted to 44,338 tonnes in December, up 1.8% as against November.  Read more

Celanese has announced price increases across a range of products within its engineered materials portfolio, to take effect 1 March, or as contracts allow. The per-kg hikes in the Asia, Americas and EMEA regions respectively include: $0.60, $0.30 and $0.60 on halogenated FR Santoprene TPVs; and $0.20, $0.10 and $0.20 on Hytrel and Bexloy TPCs.

PCBL Chemical, formerly Phillips Carbon Black Ltd, has signed a technology transfer agreement with Chinese company Ningxia Jinhua Chemical to produce acetylene black in India. Acetylene black is a conductive filler used in applications including power cables, Li-ion batteries, EV charging, electronics packaging, plastics and paints & coatings.  Read more

Yokohama Rubber Co. is to close its 90-employee, agricultural tire plant in Spartanburg, South Carolina, an 18 Feb notification filed under the US WARN (Worker Adjustment and Retaining Notification) act shows. The Yokohama TWS North America facility was part of the Japanese group's €2.1bn acquisition of Trelleborg Wheel Systems in May 2023.  Read more

Tosoh Corp.’s petrochemical division has increased revenue for the first three quarters of fiscal year 2025, ending 31 March, due in part to higher chloroprene rubber volumes. For the nine-month period to end of December, the division reported a 40% increase in operating income to Yen12.4bn (€78m), on 11% higher sales of Yen159.1bn (€996m). Tosoh linked the stronger results to “increased chloroprene rubber sales volume and improved cumene terms of trade.”  Read more

Japan's Fukoku Rubber has revised down its earnings and sales forecasts for fiscal 2024 (ending 31 March), due in part to the closure of its Chinese antivibration parts subsidiary. The components maker now expects sales to come in at Yen89bn (€556m), down 4.3% from an earlier estimate announced in May last year. Operating profit is set to come in at Yen4.6bn, down 4.2% on the earlier forecast. Read more

Switzerland’s chemical industry contributed to a 14.6% year-on-year increase in exports in 2024, with an export volume of CHF149.08bn (€147.90b). The country’s Scienceindustries business association’s foreign trade statistics report stated the industry helped account for more than 52% of total national exports last year. This, it noted, was despite a faltering economy.  Read more

Dow Inc. saw an improvement in demand for ‘downstream silicones’ in the final quarter of 2024, reported chief operating officer Karen Carter. “Volume was up 5%, with strong gains across both architectural coatings and downstream silicones,” she said. Overall, Dow's 'performance materials & coatings' segment, which includes silicones and siloxanes, reported a 4% year-on-year increase in sales to $1.9 billion (€1.8 billion).  Read more

The US Vehicle Suppliers Association (MEMA) has “echoed the profound concerns” regarding the Trump administration’s imposition of a 25% tariff on goods from Mexico and Canada. Such tariffs, it said, would severely impact the US vehicle supplier industry: jeopardising jobs, increasing costs for consumers; and undermining the competitiveness of the integrated North American supply-chain, which supports over 930,000 jobs.  Read more

Vietnam’s exports of rubber (raw and semi-processed latex) reached a record $3.4bn in 2024, Vietnam Rubber Group reported 21 Jan – citing data from the country’s customs authority. The 18.2% increase in value versus 2023 was despite a 6.2% dip in volume, to around 2m tons. Vietnam's rubber export turnover peaked at $3.3bn in 2022, then fell to $2.9bn in 2023, noted VRG. Total rubber-related exports, including products such as tires and gloves, reached a record $10.2bn last year, with around 70% going to China. In 2025, VRG expects total rubber industry exports to reach $11-11.2bn.

In Spain, Nasika Products, a manufacturer of pre-dispersed additives for rubber, has gained a CEPYME500 award, parent Avanzare Group announced 27 Jan. The innovation & international growth award recognised Nasika for its expansion in global markets for products including rubber accelerators, anti-scorching agents, sulphur donors, metal oxides and dry blends. The CEPYME500 is focused on recognising and promoting 500 Spanish SMEs that stand out at national and international level.

CEOs of several EU vehicle manufacturers participated in a 30 Jan ‘kick-off’ meeting hosted by European Commission president Ursula von der Leyen to strengthen the global competitiveness of Europe’s automotive industry. “The meeting underscored a shared sense of urgency among manufacturers and suppliers, as… slower than anticipated market uptake for zero-emission vehicles, and lack of enabling conditions significantly hinder the EU’s progress towards zero-emission mobility targets,” said industry body the ACEA.

Arkema and German distributor Albis have signed a partnership agreement for the distribution of Arkema’s medical-grade polymers across Europe, North Africa and the Middle East. The portfolio includes Arkema's medical range of Pebax MED thermoplastic elastomers, Rilsan MED polyamide 11, Rilsamid MED polyamide 12, Rilsan MED Clear transparent polyamide, and Kynar MED PVDF.

Avon Technologies’ helmet specialist Team Wendy Ceradyne has received a delivery order worth $18 million (€17.5 million) from the US Defense Logistics Agency. The order is under the US Army's next generation integrated head protection system (NG IHPS) helmet supply framework contract, originally awarded in September 2021.

Denka Group’s earnings position “has continued to remain extremely challenging,” Toshio Imai, representative director, president, Denka Co. Ltd said in his New Year’s message for 2025. The situation, he said, was due in part to rising costs in addition to "the slump" in the chloroprene rubber business. “This year, we will first work to rebuild the chloroprene rubber business and then aim to improve profitability by starting up new facilities,” stated the Japanese group’s leader.

Celanese Corp. said 14 Jan that it had received an unsolicited 'mini-tender' offer by TRC Capital Investment to purchase up to 1,500,000 shares of its common stock at an offer price of $65.50 per share. The offer, it said, was about 4.5% below the closing price of Celanese’s common stock on 13 Dec, the last trading day before the offer. Celanese recommended that "shareholders not tender their shares in response to TRC Capital’s offer." As it is for less than 5% of Celanese’s outstanding shares, the offer is not subject to SEC rules designed to protect investors, the group added. 

The Turkish Labour Party (EMEP) has reported layoffs at Prometeon's tire plant in Turkey. The December statement by the EMEP Kocaeli provincial branch did not provide details about the numbers involved but noted that workers had “reached out” to the party following dismissal. ERJ has requested comment from Prometeon.

Sumitomo Chemical Co. has 'transferred' all of its shares in its two polypropylene compound business companies in China, including an elastomer production base in Dalian. Based in Dalian City, China Sumika Polymer Compounds Dalian was founded in 2011 as a 50/50 JV between Sumitomo Chemical and local compounder Zhuhai Sumika Polymer Compounds. It manufactures PP and thermoplastic elastomer compounds, primarily used for automotive and household products.  (Read more)

ADNOC International, now XRG, has secured 91.3% of all outstanding shares of Covestro – exceeding the minimum acceptance threshold of 50% plus one share, Covestro announced 19 Dec. The takeover by ADNOC “is exactly the right step for Covestro at the right time,” said Dr. Markus Steilemann, CEO of Covestro. “As part of the XRG Group and following the closing of the transaction, we will be in a position to further accelerate our ongoing transformation.” Closing is not expected before H2/25.

Clermont-Ferrand, France-based Carbios said 19 Dec that it is postponing the construction of its PET bio-recycling plant in Longlaville for six-to-nine months “due to delayed funding pending completion of additional financing under satisfactory conditions.” The company said it aims to finalise the financing “as quickly as possible, so as to serve market needs from 2027”: signing several binding commercial contracts in the first half of 2025.

Sri Trang Agro-Industry (STA) on 3 Jan reported an “enthusiastic response” to a recent roadshow presenting its operations and upcoming bond issuance to institutional investors. Both the company and the bonds have been assigned a credit rating of ‘A- with a stable outlook by TRIS Rating as of 25 Nov, 2024. STA claims to be the world's largest fully integrated natural rubber company and Thailand's leading rubber glove producer.

On 27 Dec 2024, Sri Trang Group reported securing corporate social responsibility (CSR) awards across 28 factories under a programme organised by Thailand’s department of industrial works. Separately, the Thai group comprising Sri Trang Agro-Industry and Sri Trang Gloves (Thailand) gained the ‘outstanding organization award for promoting employment for persons with disabilities 2024’.

Tokyo-based Teijin Ltd announced 3 Dec that it will invest in Circularise BV, which develops product traceability management systems using blockchain technology. Teijin aims to implement the Dutch firm’s software to enhance the transparency and reliability of its global supply-chain and procure raw materials with lower environmental impact.

Asahi Kasei, Mitsui Chemicals, and Mitsubishi Chemical have recently announced progress with previously announced plans to start a joint feasibility study to transition ethylene production facilities in western Japan to carbon neutrality. The proposed measured include conversion to biomass feedstock, low-carbon fuel and “future capacity reductions, premised on the establishment of a joint operating entity.”  Based on an initial assessment, the three companies have reached agreement to perform more in-depth study.

Civil Water Management Ltd, based in Leeds, has been awarded funding of £150,000 under a UK government programme to better connect rural communities. CWM’s project’s features the installation of new drainage systems using recycled car tires to aid safer cycling along flood-prone sections of cycle routes.

Italian smart tags maker Beontag has opened an $80m facility in Trotwood, near Dayton. The facility is designed to drive a four-fold increase in the group’s production capacity in North America, Beontag recently stated. By Q4/25, the facility will be able to ship up to 3bn RFID tags and up to 270m sq.m. of graphic and label materials per year.  Read more

SMX (Security Matters) PLC is to merge its digital platform traceability technologies with Ybyra Capital's commodities and real estate asset-base in South America and Asia. Under a proposed share-swap deal, Ybyra will contribute certain fertiliser holdings, real estate assets and other assets in Brazil to a new Irish private company owned by SMX. The merger would tap SMX's expertise in marking, tracking, and certifying the authenticity and provenance of products such as coffee, tea, metals, palm oil, and natural rubber. The parties aim to close the deal in H1/25.

Covestro is to disclose salary ranges for all advertised positions in Germany, regardless of hierarchy level or department: “proactively” implementing the EU Pay Transparency Directive. Expected in 2026, the directive mandates employers to provide information about entry-level salaries or salary ranges for advertised positions. “By publishing salary ranges in our job postings, we demonstrate that we live by these values, take the concerns of applicants seriously, and promote an open and fair dialogue,” said Sophie von Saldern, global head of HR at Covestro.

Continental has sold its fleet management provider Zonar Systems, based in Seattle, Washington, to Roswell, Georgia-headquartered GPS Trackit, a cloud-based, internet of things (IoT) fleet solutions and GPS tracking specialist. The deal follows Continental’s Automotive group sector strategy centred around focusing on its core strengths and streamlining its business operations.

Minnesota-based Carlisle Fluid Technologies has acquired German Reinhardt Technik, a supplier of bonding, dispensing, potting and silicone rubber processing technologies. Carlisle specialises in products and systems for curing of spray materials such as paints, coatings, powders, sealants, and adhesives. The acquisition will significantly enhances Carlisle’s ‘sealants and adhesives platform.’

Sekisui House and Bridgestone have begun a joint venture to “horizontally recycle” waste plastic pipes for water and hot water supply used in Sekisui House homes. The closed-loop recycling programme will see Sekisui House collecting and recycling Bridgestone-manufactured polybutene pipes, turning them into recycled pellets by a processor and returned to Bridgestone for use in the production of water supply and water heating resin pipes.

Hexpol TPE is to change the name of recently acquired US company Star Thermoplastic Alloys and Rubbers LLC to Hexpol TPE Americas LLC, effective January 2025.  The rebrand is a “natural progression” said Star Thermoplastic MD Mark Clayton, who relocated to the US earlier this year after five years managing Hexpol TPE’s UK company. Hexpol TPE operates from six locations in Sweden, the UK, Germany, China and the US, with a global production capacity of over 110ktpa.

Holcim said 6 Dec that it is progressing the planned full capital market separation of its North American business, via a 100% spin-off to be listed on the New York Stock Exchange. An additional listing on the SIX Swiss Exchange is planned to accommodate European investors. The plan is subject to shareholder approval at the Holcim AGM on 14 May 2025, and is expected to occur by H1/25.

Elkem ASA has secured €1.8 million in funding from the European Union for its Elkem Sicalo project which aims to produce silicones with carbon looping and eliminating CO2 emissions from silicon production. Elkem, Sintef and Norce are completing the first pilot phase of Elkem Sicalo at Elkem’s technology park in Kristiansand, Norway. The project entails capturing the carbon emitted from the silicon furnace and reusing it as a reductant in the silicon production process.

Cefic on 5 Dec issued an “urgent” message to the new European Commission: “Europe’s chemical industry is at a breaking point. Without bold measures, the industry that has long been a cornerstone of Europe’s prosperity is at risk of further decline, jeopardising its future on the continent. At two to four times higher than its competitors, energy prices in Europe are unsustainably high, and the EU’s regulatory system is too complex, slow, and often contradictory. Investments and jobs are being driven away, while regions with simpler, faster, and more supportive frameworks eagerly take Europe’s place.”

Arkema on 2 Dec finalised its acquisition of Dow’s flexible packaging laminating adhesives business, With annual sales of around $250m, the acquired unit is particularly focused on supplying products for food and medical applications, as well as for industrial lamination. Employing 280 people, it operates five production sites in Italy, the US and Mexico.

Trelleborg Group has finalised the acquisition of Magee Plastics, a US company that manufactures and performs services on solutions made from high-performance thermoplastic and composite materials for the aerospace industry. Headquartered in Warrendale, Pennsylvania, Magee Plastics generated sales of SEK230 million (€20 million) in 2023.

Bridgestone has confirmed its commitment to investment in its Burgos, Spain plant, saying it is progressing an upgrade programme unveiled earlier this year. In a statement to ERJ, the group rebuffed recent press reports that Bridgestone was looking to rein back on the investment amid intensifying challenges within Spain's automotive industry.  Read more

London-listed mining company Ferro-Alloy Resources has issued an update about the commercial potential of its carbon black substitute (CBS), produced from waste material left behind by mining vanadium at its Balasausqandiq project in Kazakhstan. The material, it said, generates 0.36 to 0.6 tonnes of CO2e per tonne of production in FAR’s process, versus 2 to 5 tonnes in standard carbon black production. Independent testing, it claimed, “confirmed the suitability of FAR’s CBS for use in the sidewalls of car tyres with a standard N660 grade carbon black.”

ADNOC’s public takeover offer for Covestro remains on track, having gained the green light from the German group’s board of management and supervisory board in November. The offer price of €62.00 per share in cash, represents an “attractive premium” of 54% for Covestro shareholders. The polycarbonate and urethanes major envisages “sustainable growth in highly attractive sectors” and enhanced “contribution to green transformation” under its prospective new owner. The deal, which remains subject to acceptance by over 50% of Covestro’s share-ownership and regulatory clearances, is not expected to complete before H2/’25.

Test & measurement major Hottinger Bruel & Kjaer GmbH (HBK) has officially added Piezocryst Advanced Sensorics GmbH to the group following its acquisition by Spectris plc. The €133.5m deal has now been approved through a comprehensive regulatory process in Austria, HBK said 2 Dec.?With the integration into HBK, the acquired business will operate as part of the ‘in-process’ business unit, under the name ‘Piezocryst by HBK’.  Graz, Austria-based Piezocryst specialises in piezoelectric sensors, accelerometers and force sensors for optimising engines, machines, and processes.

Russia’s Severgroup, owned by billionaire Alexey Mordashov, has recently acquired tire and automotive parts manufacturer Cordiant Group from private equity investor S8 Capital. ased in Moscow, Cordiant, employs 8,000 people across four production plants, including the former Bridgestone and Continental tire factories in Ulyanovsk and Kaluga, respectively and two previously owned plants in Omsk and Yaroslavl. Read more

Finland-based manufacturer Reka Rubber reported third quarter sales of €6m down 8% year-on-year, while earnings (EBITDA) for the period grew from €100k to €500k. For the first nine months, sales declined 12% year-on-year to €20.7m, while segment earnings, almost halved from €1.4m to €800k, parent Reka Industrial reported 22 Oct.