Court confirms Federal-Mogul plan
Federal-Mogul Corp.'s reorganization plan to help the firm emerge from Chapter 11 has been confirmed by the U.S. Bankruptcy Court.
The next step for the company is to receive plan approval from the U.S. District Court before it is able to emerge from bankruptcy.
Federal-Mogul filed for Chapter 11 in 2001 to separate its asbestos liabilities from its operating costs, according to the company.
Michelin to boost tire prices
Michelin North America Inc. said it will hike prices for some commercial truck and agricultural tires on Jan. 1 by as much as 7 percent.
Prices for Michelin and BFGoodrich brand commercial truck tires will rise up to 6 percent, and MRT retreads sold in the U.S. by as high as 4 percent, the firm said.
Agricultural and Compact Line tires sold in the U.S. will increase by as much as 7 percent, depending on the product.
Chemtura hikes Fomrez prices
Chemtura Corp. increased prices on all Fomrez polyesters by 5-7 percent in North America and Latin America, effective Nov. 15 or as contracts permit.
The firm pointed to escalating costs for raw materials, transportation and energy as the reason for the increase.
Hansen & Rosenthal joins IISRP
Hansen & Rosenthal Group, a producer of plasticizers, extender oils and anti-ozone waxes, is the newest affiliate member of the International Institute of Synthetic Rubber Producers.
The company is based in Hamburg, Germany. Jurgen Trimbach, the firm's product manager for process oils, will act as liaison to the IISRP, and Niels H. Hansen will be his alternate, the association said.
INOAC, Woodbridge to partner
Japan's INOAC Corp. and Canada's Woodbridge Group said they will partner on two joint ventures involving polyurethanes, one in North America and the other in Japan. The changes will take place Dec. 31.
Woodbridge will buy 50 percent of INOAC's Kyushu, Japan, molded urethane foam operation. This acquisition completes a network of jointly owned facilities in Japan that serve the Japanese market.
In North America, INOAC-which has a long-standing relationship with Woodbridge-will acquire 50 percent of four Woodbridge slab foam and flame-lamination facilities that supply products to the automotive industry.
The joint venture will encompass operations in Saltillo, Mexico; Del Rio, Texas; and two sites in El Paso, Texas.
Trelleborg purchases distributor
Trelleborg Group's Sealing Solutions business has bought Sealing Solutions Inc. for an undisclosed sum.
Sealing Solutions Inc. is a Colmar, Pa.-based seal distributor that boasts about $15.8 million in annual sales, Trelleborg said.
It has served Trelleborg and other seal producers, mainly within the aerospace industry, and industrial OEM companies.
Dow Reichhold Specialty Latex L.L.C. will boost prices for all specialty latex products by 5-8 percent on Jan. 1...Rohm and Haas Co.'s packaging and building materials business plans price increases of 4-6 percent for products it sells to the adhesives and sealants industry in Europe, the Middle East and Africa...Dow Chemical Co. will increase North American and off-list prices on selected Tergitol, Triton and Dowfax surfactants on Dec. 1 by 2-5 cents a pound...Bluestar Silicones USA Corp. said prices for silicone products will jump 5-10 percent starting Jan. 1...Omnova Solutions Inc.'s Specialty Chemicals business unit plans to raise prices for specialty latex products by up to 10 percent on Dec. 15 or as contracts allow.