1. Degenhart to step down as CEO of Continental
This week saw encouraging signs of market recovery as various companies were cautiously optimistic for a partial rebound from the Covid slowdown in the second half of the year. But the top spot of the week will have to go to a sudden turn of events at Continental AG’s top management, with the unexpected announcement of the resignation of long-time CEO Elmar Degenhart on 29 Oct. Read more
2. Michelin raises full year financial outlook
Having posted an ‘upturn’ in third quarter results, Michelin has now revised up its 2020 financial guidance on the back of new market forecasts and the cost reductions linked to the Covid-19 pandemic. Read more
3. Hexpol Q3 results up as demand starts to recover
Swedish compounder Hexpol AB also reported a 32% quarter-on-quarter improvement in sales in the three months to end of September, as demand starts to recover from the pandemic downturn. Read more
4. How rubber product manufacturers can survive the pandemic
ERJ Q&A with Rob Sinfield, a senior official at enterprise software company Sage explains how investment in the digitisation of the manufacturing sector can improve prospects for recovery from the impact of the pandemic. Read more
5. Nokian buoyed by US, Central Europe sales
Finnish tire maker Nokian has also seen an uptick in third quarter results, particularly as US and Central Europe demand improved in the summer months. Read more
6. Trelleborg anticipates "tougher climate" in coming months
For Trelleborg AB, challenging times continued, as the group sales and earnings declined in the three months to end of September. The Swedish polymer group expects a “tougher climate” in the final quarter of the year, as new Covid-19 restrictions are imposed in various countries. Read more
7. Lower sales, higher margins at Conti rubber ops
Continental AG’s rubber unit – Rubber Technologies – also reported a 5.0% drop in third-quarter sales to €4.333 billion, but said adjusted EBIT margin, have come in at 15.0% compared to 11.8% in the prior-year period. Read more
8. AirBoss acquires full ownership of defence joint venture
Building on its Covid orderbook success, Ontario-based AirBoss of America Corp. acquired the remaining 45% minority interest in AirBoss Defense Group (ADG) from Critical Solutions Holdings (CSH) to become the full owner of the defence business. Read more
9. SR prices see sharp rise in China
China’s synthetic rubber prices also have witnessed a sharp surge since the beginning of October, helped by a post-lockdown economic recovery, according a recent report by consulting firm Sublime China Information Co. (SCI). Read more
10. UK post-Brexit regulatory warning
With the pandemic still driving down businesses globally, Brexit remains a serious concern as the UK prepares to depart from the EU by the yearend. Aside from its financial impact and market disruptions, the departure is now causing a regulatory alarm, as the chemicals industry remains in the dark about the detail of new regulations and their supporting guidance. Read more
Trinseo partners with Swiss recycler for sustainable tire rubber
Trinseo SA has continued its pursuit of more sustainable materials, as it entered a partnership with Switzerland-based Tyre Recycling Solutions (TRS) for the formulation of sustainable tire rubber. Read more
