GREENVILLE, S.C.—Michelin North America Inc. has acquired scrap tire processor Lehigh Technologies Inc. as part of its strategy to help foster the use of recycled rubber materials in tire and non-tire applications.
The purchase price was not disclosed.
Tucker, Ga.-based Lehigh processes scrap tires into what it calls "micronized" rubber powders (MRPs). About 65 percent of Lehigh's MRPs are used for tire-related applications, the company has said in the past.
The company uses a patented cryogenic turbo mill technology to transform rubber from scrap tires and industrial goods into materials for new tires and other products, reducing the initial amount of raw materials needed, such as elastomers and fillers from oil- and rubber-based sources.
"We are always looking for ways to achieve safer and more sustainable mobility, including by using high-technology recycled materials, without compromising safety or other performances, while consuming less of the natural resources that are available in finite stocks," said Pete Selleck, chairman and president of Michelin North America.
Selleck described Lehigh and Michelin as a "natural fit," noting that the acquisition gives the tire maker the tools it needs to reduce the use of raw materials in tire and non-tire applications.
"This acquisition demonstrates Michelin's strategic intent to bring its expertise in materials to markets that extend beyond tires, and in particular, to foster the use of advanced rubber recycled materials in the tire and non-tire industries," said Christophe Rahier, senior vice president of strategic planning materials for Michelin Group.
Lehigh said its customers include some of the largest tire companies in the world, as well as companies in construction materials, asphalt modification and other markets.
"This deal provides Lehigh Technologies with an incredible opportunity to continue our growth," Lehigh CEO Alan Barton said. "With the full backing of Michelin, we can continue to expand our capabilities, execute our global growth strategy and pursue new market opportunities."