Lehigh, MTR reach deal on recycling crumb rubber
Engineered rubber powder manufacturer Lehigh Technologies Inc. has reached a strategic recycling agreement with scrap tire processor MTR Inc.
The deal calls for Lehigh to host a crumb rubber processing facility at MTR's Jackson, Ga., tire collection and recycling plant, Lehigh said. The operation will provide all of the feedstock for Lehigh's Tucker, Ga., fine powder processing facility, and the closed-loop, recycling/reuse program at Jackson will allow the firms together to offer a low-cost method of processing factory discards into reusable raw materials.
Lehigh will spend about $5 million at the MTR Jackson plant setting up its crumb rubber operations.
Myers buys bulk container producer Schoeller Arca
Myers Industries Inc. has purchased the assets of Schoeller Arca Systems Inc. North America, a maker of reusable bulk containers and related material handling products.
Myers bought the Detroit-based business, which posts annual sales in the $50 million range, from Schoeller Arca Systems N.V. of the Netherlands. The purchase price wasn't disclosed.
The deal includes equipment, molds and inventory related to Schoeller's Xytec and Combo bulk container product lines. Meyers said those lines will be integrated into Myers' Buckhorn business.
Foamex International plans reverse stock split
Foamex International Inc. plans a one-for-four reverse stock split after a majority of the company's common stock shareholders approved amendments to the firm's charter allowing such action.
The polyurethane foam maker said the action should create more liquidity, increase awareness of Foamex Inernational's shares among potential investors and enhance the company's value for all stockholders.
ExxonMobil Chemical opens applications center
ExxonMobil Chemical Corp. has opened a polymers automotive applications center in Kawasaki, Japan.
The center will support ExxonMobil's polymers business, including specialty elastomers such as Santoprene-brand thermoplastics vulcanizate and polypropylene compounds. It is located at the site of ExxonMobil affiliate Tonen Kagaku K.K.
The investment for the center was not disclosed.
Davis-Standard L.L.C.'s Converting Systems Group has a new Web site, www.bc-egan.com...Rehau A.G. and Co. received the 2006 Global Supplier Award from DaimlerChrysler for outstanding international performance as a supplier of exterior components ...Hankook Tire America Corp. will raise prices on its full line of passenger, high performance and light truck tires by up to 7 percent on April 1.