ERJ Top 10 Stories of the Week (14 – 20 March)
Lanxess is to stop EPDM rubber production at its Marl site in Germany and restructure its neodymium-based butadiene rubber (Nd-PBR) operations, the company announced 19 March. The moves are part of plans to address market over-capacities and improve the competitiveness of Lanxess’ synthetic rubber (SR) business - towards finding a new ownership structure for the business. (Read more)
US imports of Chinese tires continued ramping up in 2014
The Chinese “invasion” of the US tire aftermarket continued with gusto in 2014, as imports of passenger, light truck and medium truck/bus tires from China jumped 9.5, 21.8 and 34.2 percent, respectively, last year over 2013. (Read more)
Radial tire maker Shandong Deruibo Tire, with a 33 million units/year capacity, filed for government-coordinated restructuring on 7 Feb due to “financial constraints,” according to the local government. (Read more)
Toyo in quake-proof rubber scandal
Toyo Tyre & Rubber has admitted supplying rubber earthquake-protection products for the construction industry, which did not conform to official certification. In a 13 March statement, only published in Japanese on its website, the Osaka-based company said that the rubber-laminated bearings were certified by Japan’s ministry of land, infrastructure and transport, but ‘didnot meet to the regulator’s criteria’. (Read more)
Vietnam joins ITRC to revive NR prices
Vietnam, the world’s third largest natural rubber producer, has agreed to cooperate with Thailand, Indonesia and Malaysia under the umbrella International Tripartite Rubber Council (ITRC). (Read more )
Despite challenging trading conditions, Trelleborg has continued to strengthen its positions in several markets and segments, the company said in its 2014 annual results statement. Operating profit rose 15 percent to SEK3,001 million from SEK2,613 million in 2013. According to Trelleborg, the operating profit was the highest to date for a full year. (Read more)
Analyst expects rise in NR prices despite slower consumption growth
Natural rubber (NR) prices would rise as a result of tightening stocks and currency appreciation, despite a slowdown in rubber consumption, a leading rubber market analyst has forecast. (Read more)
Sibur posts 14% drop in SR revenue
Russian gas processing and petrochemicals major Sibur has reported a 34-percent rise in its revenue year-on-year and a 30-percent rise in its EBITDA, despite a 14-percent drop in its synthetic rubber business. (Read more)
German rubber machinery sales to grow 4% in 2015
German plastics and rubber machinery manufacturers expect a four-percent growth in sales to exceed €7 billion in 2015, according to the German Engineering Federation (VDMA). (Read more)
The Singapore Exchange (SGX) is in preliminary talks to be part of a regional rubber exchange that would bring together the top three producing nations, Reuters has reported. (Read more)
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