TSRC Corporation announced that it has increased its shareholding in Indian Synthetic Rubber Private Ltd. (ISRPL) to 50 %, as the transaction closed in April 2018. ISRPL was founded in April 2010 as a joint venture by TSRC, Indian Oil Corporation Ltd. (IOCL), and Marubeni Corporation, with respective stakes of 30 %, 50 %, and 20 %, to manufacture and market emulsion styrene butadiene rubber (ESBR) with technology licensed from TSRC.
Sabic has presented a new portfolio of polypropylene compounds that deliver a soft feel combined with good scratch performance in unpainted, low-gloss automotive interior components at NPE2018. According to the manufacturer, the new Sabic PPcompounds offer luxurious haptics and finishes. At the same time, these injection moulding materials can help automotive OEMs and tiers reduce costs by as much as 50 % by avoiding secondary operations such as applying soft paint, fabric, foam or other surface coverings.
AkzoNobel announced the sale of 100 % of its Specialty Chemicals business to investors The Carlyle Group and Government of Singapore Investment Corporation (GIC) for an enterprise value of EUR 10.1 billion. According to AkzoNobel, this transaction creates two focused businesses – Paints and Coatings, and Specialty Chemicals – as part of its strategy announced in April 2017. The transaction is subject to customary closing conditions and is expected to be completed before the end of 2018.
Nicholas Mitchell has joined Goodyear as new senior director of investor relations. He will report to Christina Zamarro, who has taken on expanded responsibilities as vice president of corporate financial planning and analysis (FP&A) and investor relations. Mitchell joined Goodyear from Northcoast Research Partners where he served as managing director, research analyst since 2009.
The automotive supplier Boge Rubber & Plastics has acquired the fixed assets and patent utility rights of Flexcon Germany GmbH as of 1 April 2018. Financial details of the transaction were not disclosed. Flexcon produces fibre-reinforced rubber-elastic couplings such as those used in cardan shafts of rear and four-wheel drive motor vehicles as well as in many mobile and stationary industrial areas.
Erica McLaughlin has been appointed as new senior vice president and chief financial officer (CFO) of Cabot Corporation, effective from 15 May 2018. McLaughlin has been responsible as vice president of business operations for Cabot’s Reinforcement Materials segment and general manager of the tyre business so far.
Goodyear and Bridgestone Americas announced that they are forming one of the largest tyre distribution joint ventures in the USA. TireHub, LLC will combine Goodyear’s company-owned wholesale distribution network with Bridgestone-owned Tire Wholesale Warehouse (TWW).
Linglong Tire and the Indian Aditya Birla Group have signed a strategic cooperation agreement under which Aditya Birla will become the carbon black supplier of the Chinese tyre manufacturer. According to Linglong Tire, the agreement will support its internationalisation plans and is expected to improve the quality of its products.