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May 01, 2006 02:00 AM

News Digest

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    Lanxess raises nitrile, EPDM rubber prices

    Lanxess A.G.'s Technical Rubber Products business unit hiked prices in the European market for its nitrile rubber and EPDM products effective April 1, following similar action in the U.S. market.

    The increases are for its Krynac and Perbunan NBR lines and its Buna EP EPDM products. The new prices are $145 per metric ton for standard-grade NBR and $220 for specialty grades, and $176 per ton for EPDM.

    GPX completes buyout of Maine Industrial Tire

    GPX International Tire Corp. has completed the purchase of Maine Industrial Tire Ltd. of Gorham, Maine, for an undisclosed amount.

    GPX-formed by the merger of Dynamic Tire Corp. and Galaxy Tire & Wheel-announced the pending deal in late March.

    ``With the acquisition of MITL, GPX has significantly fortified its position in the industrial tire market,'' said Robert Sherkin, chairman and co-CEO of GPX. ``To further increase MITL's competitive stature, GPX will review all elements of the production and sales cycles, as we are confident that GPX's global sourcing and distribution channels offer opportunities for immediate positive results.''

    Zingraff plans to retire from top Michelin post

    Rene Zingraff, a managing partner of Michelin since 1986, will retire from that post at the firm's annual meeting May 12.

    Zingraff, 69, has been with Michelin since 1964. He is scheduled to be replaced by Michel Rollier, chief financial officer since October 1999, who was nominated at the 2005 annual meeting.

    With Zingraff's retirement, Michelin will have two managing partners, Rollier and Chairman Edouard Michelin. Rollier, 61, joined Michelin in 1996, filling posts in the legal and finance departments before advancing to chief financial officer.

    BASF adds new Web site for polyurethane systems

    BASF Corp. has launched a new Web site to provide design engineers responsible for automotive interiors and other end uses with the latest technical and application information on the company's Elastoskin polyurethane system technology.

    The Web site, www.basf.com/elastoskin, provides an overview of the Elastoskin polyurethane system, which produces soft skins used in automotive interior components such as instrument panels, door trim, headrests, seats and integrated air bags, as well as comparable applications for boats, tractors and other end uses, the firm said.

    New GreenMan CEO buys 500,000 shares of stock

    GreenMan Technologies Inc.'s new president and CEO, Lyle Jensen, has agreed to purchase 500,000 shares of the company's common stock valued at $140,000.

    Additionally, Nicholas DeBenedictis, an outside director, will convert about $76,000 of short-term debt and accrued interest into approximately 273,000 shares of unregistered GreenMan common stock.

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