 Breaking News Tuesday, February 09, 2010
Chemtura files for $450 million loan facility
MIDDLEBURY, Conn. (Feb. 8, 2010)—Chemtura Corp., a manufacturer of urethane prepolymers and additives, said it is seeking approval for an amended $450 million debtor-in-possession facility to allow the company to execute its business plan.
Michelin names first loan recipients 
OPELIKA, Ala. (Feb. 8, 2010)—The Michelin Development program for East Alabama has selected its first three local businesses to receive low-interest loans.
Toyo’s Ga. plant reaches 5-million-tire milestone
WHITE, Ga. (Feb. 8, 2010)—Toyo Tire North America Manufacturing Inc. recently produced its 5-millionth tire at its four-year-old plant in White.
India puts anti-dumping duty on carbon black imports
NEW DELHI (Feb. 5, 2010)—The Indian Government has imposed anti-dumping duties of between $0.084-$0.423 per kilogram on imported carbon black used in the rubber industry.
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Michigan DEQ claims success, makes future plans for program
LANSING, Mich. (Feb. 5, 2010)—Michigan’s scrap tire management program has achieved great success, but the state must plan carefully to maintain and build on this success, according to a new report from the Michigan Department of Environmental Quality.
ContiTread retreading units planned in Mexico
MONTERREY, Mexico (Feb. 5, 2010)—Continental Tire North America Inc. expects to establish itself in the Mexican retreading market with the opening of about 15 ContiTread retreading plants over the next year.
Conti to raise prices on industrial tires
FORT MILL, S.C. (Feb. 4, 2010)-Continental Tire North America Inc. said it will hike prices for industrial tires sold in the U.S. by 4.5 percent on March 1, and March 15 in Canada.
Dow to close Freeport TDI plant
MIDLAND, Mich. (Feb. 4, 2010)—Dow Chemical Co. said it permanently will close its toluene diisocyanate production plant in Freeport, Texas, in the second quarter because producing the polyurethane curative there isn’t economically viable.
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Charles Cannon, president of the Rubber Manufacturers Association, said the health of the tire industry is largely tied to the purchases of new cars along with the number of miles driven.
Associations say economy will be main issue in 2010
WASHINGTON—In 2010, the economy in all its permutations will remain the prime issue, according to chief officials at associations representing tire makers and the auto aftermarket. |
Tim Toppen, president and CEO of Veyance Technologies Inc., said quick reactions to change have helped the company during tough times. / RPN photo by Mike McNulty
Strategic growth, cuts help Veyance through the storm
FAIRLAWN, Ohio—A two-year string of expansions and acquisitions have proved to be cornerstones for Veyance Technologies Inc., bolstering virtually every business segment, despite the economic tempest that raged in 2009. |
Rick Hudson, president and CEO of R.L. Hudson & Co., shows some of the hose produced in China by one of his suppliers.
Quick action gives R.L. Hudson a profitable 2009
BROKEN ARROW, Okla.—R. L. Hudson & Co. weathered some nasty economic storms in 2009 and figured it would be hit with a significant loss. Quick action by a strong executive team, implementation of some tough cutbacks, and development of new, innovative products allowed the company to right itself and actually close out the year with a profit, according to Rick Hudson, president, CEO and founder of the firm. |
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