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Trinseo Agrees to Sell Synthetic Rubber Business to Poland’s Synthos

on June 2, 2021 in Industry

Trinseo SA, a manufacturer of plastics, latex binders and synthetic rubber, has announced a definitive agreement to sell its synthetic rubber business to Polish company Synthos SA. Based in Schkopau, Germany, Trinseo’s synthetic rubber business has been valued at approximately $491 million. After subtracting pension liabilities, transaction-related costs and taxes, the net cash proceeds from the sale are expected to...

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Sumitomo Riko’s Thermal Insulation Films Fitted to Freezer Boxes for Vaccine Transportation

on June 1, 2021 in Industry, Products

Sumitomo Riko Co. Ltd. (TYO:5191) has seen its Finesulight series of thin films with high thermal insulation functionality get picked up for use in the BioBox Freezer, a dry ice-compatible, ultrahigh-performance thermal insulation box offered by Sugiyama-Gen Co. Ltd. Allowing for storage at below minus 70 degrees Celsius without the need for electricity, this freezer box is expected to find...

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Yokohama Rubber to Acquire Polish Tire Distributor

on May 26, 2021 in Industry

Yokohama Rubber Co. Ltd.’s (TYO:5101) European headquarters, Yokohama Europe GmbH, has concluded a contract to acquire all shares of ITR CEE Spolka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tires in central and eastern Europe. Once the transfer of shares is complete, the Polish company’s name will be changed to Yokohama CEE Społka z.o.o. Yokohama...

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Annual Rubber Industry Accounts for FY2020 Show Second-Half Recovery on Automotive Rebound

on May 25, 2021 in Industry

Rubber industry earnings reports for the fiscal year through March 2021 show a second-half recovery from nearly across-the-board first-half negative revenue and profit performance due to the economic impact of the COVID-19 pandemic that struck early in 2020. The second-half turnaround reflected a worldwide economic recovery, powered in large part by strong performance in the Chinese and U.S. automotive industries....

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JSR to Complete 115B Yen Transfer of Elastomers Business to Eneos in April 2022

on May 14, 2021 in Industry, Materials

Leading synthetic rubber manufacturer JSR Corp. (TYO:4185) has announced plans to transfer its elastomers business to Eneos Corp. Due to be completed on April 1, 2022, the deal here will be based on a valuation of 115 billion yen ($1.05 billion). Commenting on the deal, JSR CEO Eric Johnson acknowledged that elastomers have been a core business for JSR since...

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Bridgestone Plants Receive Top Rating from Caterpillar’s Supplier Rating Program

on May 12, 2021 in Industry, Tires

Bridgestone Corp. (TYO:5108) and the Bridgestone Group have had seven plants receive a Platinum Level rating under Caterpillar Inc.’s Supplier Quality Excellence Process (SQEP) for 2020. This is the highest supplier rating provided by the U.S.-based manufacturer of construction and mining equipment. Four of the seven Bridgestone plants to receive this rating manufacture tires for construction equipment, including the Santo...

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