Tuesday, August 20, 2019 - Dayton, TN - Nokian Tyres has begun construction on a world class administration building at its new factory in Dayton, TN; its first production facility in North America. Complete with meeting spaces, offices, a gym, garden and other premium amenities, the facility is intended to reinforce the Scandinavian company’s life-driven culture, while providing everything its employees need to be successful. “Our administration building is another example of our desire to be the employer of choice in Southeast Tennessee,” said Dayton Factory Operations Director Peter Chia. “In addition to taking care of our workers’ practical business needs, we want this facility to give them space to thrive.” Nokian Tyres is partnering with EMJ Construction to construct the facility, which is scheduled for completion in mid-2020. Work on the adjacent production complex is largely complete; trial production began in early July, and commercial tire production remains on schedule for early next year. The administration building’s interactive, open-concept office space will accommodate as many as 100 employees. In line with Nokian Tyres’ passion for the environment, the company is building several green features at the factory. That includes a greenspace area outside the building, which features a garden between the parking lot and the building’s entrance complete with a pond, trees, park benches and a walking path. Patios will dot the exterior of the structure. “As a Tennessee-based company we are thrilled to have the opportunity to work with Nokian Tyres,” said Chas Torrence, EVP, EMJ Construction. “Nokian Tyres is a best-in-class brand and manufacturer. We’re proud to partner with the company during its exciting growth and expansion in North America.” “We are going above and beyond to provide our team members with a premium place to work,” said Nokian Tyres Construction Manager David Korda. “In my years of experience helping oversee industrial construction projects, this is among the most impressive facilities I have encountered.” The Dayton Factory is a major element of Nokian Tyres’ ambitious growth strategy, through which the company aims to double North American sales by 2023. The facility will allow the company to make premium products tailored to the needs of North American consumers, expand its customer base, and strengthen its relationships with existing customers. Once capacity reaches four million tires per year, the factory will employ as many as 400 people, from production operators to engineers, managers and specialists in several core business areas.​

Tuesday, August 20, 2019 - Cleveland, OH - PolyOne Corporation announced it has entered into a definitive agreement to sell its Performance Products and Solutions (PP&S) business to SK Capital Partners for $775 million in cash. PolyOne expects to record a pre-tax gain of approximately $600 million at the time the sale is completed. With sales of approximately $700 million, PP&S is a global provider of formulated PVC and polypropylene based solutions, as well as contract manufacturing services, primarily serving the North American Construction and Automotive end markets. "We conducted what became a very competitive bidding process for our PP&S segment," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "Ultimately, we determined that divesting the business to SK Capital Partners would provide greater flexibility to accelerate our specialty growth strategy, and is in the best interest of customers, employees and shareholders." "In the short term, proceeds from the sale will be used to pay down debt on our revolving line of credit and reduce our overall net debt to EBITDA leverage from 3.2 to 2.0 by year-end," said Patterson. "Longer term, we can further refine our focus on investing in and growing our three remaining segments: Specialty Engineered Materials; Color, Additives and Inks; and Distribution." The company noted it expects full year 2019 adjusted earnings per share from continuing operations to expand 6-8 percent over the prior year. "We continue to benefit from recent investments made in composites and other sustainable solutions, which is helping us to deliver adjusted EPS growth in an otherwise challenging environment," said Patterson. "As discussed on our second quarter conference call, margins are expanding as a result of improved mix, pricing and cost reductions." In accordance with U.S. GAAP, the company expects the PP&S business will be classified as "held for sale" and reported as a discontinued operation. The company noted that HSBC served as financial advisor and led the sale process for PolyOne. Jones Day served as outside legal counsel. The sale is subject to satisfaction of regulatory requirements and other customary closing conditions, which the company expects to be completed during the fourth quarter. The company will discuss additional details of the transaction on its third quarter 2019 conference call.

Tuesday, August 20, 2019 - Valley Cottage, NY - Worldwide sales of synthetic polyisoprene rubber will roughly equate the revenues worth $590 million by 2019 end, a 7 percent increase year-over-year, according to the latest research from Future Market Insights (FMI). FMI analysts expect the synthetic polyisoprene rubber market to grow at a CAGR of 8 percent during the period 2019-2029, driven by incorporation of innovative materials in medical gloves production to prevent the risk of latex allergy along with increasing demand for highly efficient adhesives in the building and construction industry. Analysts also expect that demand coming from high-end applications can offer larger profit pools, which should compel the manufactures to center their focus on developing material with high purity targeted at specific end-use applications. Increasing environmental regulations in regard to mounting concerns over rising rubber waste in landfills will impact the market growth in the future. Manufactureres who are taking off into new processing technologies and development of new raw materials compounds that will reduce the dependence on petroleum will succeed and continue to capture relatively high market share. Aligning with newer consumer and industrial trends will be a key to strengthening the position in the market, as well. In 2018, sales of synthetic polyisoprene rubber for medical use represented a ~57 percent share, and growing use in consumer goods production is likely to result in increased market share. Owing to enhanced consistency, lower impurities, improved manufacturability and cost as compared to natural rubber, the use of synthetic polyisoprene rubber in healthcare or medical items will increase 6.7 percent year-over-year in 2019, according to the FMI analyst. Although the industrial use of synthetic polyisoprene rubber has been rapidly increasing over the years, it continues to account for the lowest share in the market. "The risk of allergy associated with surgical gloves manufactured from natural rubber latex has largely influenced the rising demand for synthetic polyisoprene rubber," said the FMI analyst. "Moreover, application in medical glove production has contributed more than half of the growth of the synthetic polyisoprene rubber market in 2018." In recent years, increasing awareness and promotion of condom use to prevent the transmission of several STDs has significantly raised the demand for synthetic polyisoprene rubber, especially for non-latex condoms. In addition, the FMI analyst forecasts the sales of synthetic polyisoprene rubber for application in medical balloons and catheters to collectively record a ~20 percent share in 2019. According to the FMI analyst, the Europe market for synthetic polyisoprene rubber will lose its leading position to the East Asian market in 2019, which generated revenue worth ~$145 million in 2018. The emergence of Asia Pacific as the world's largest producers and consumers of synthetic rubber continues to work to advantage of market stakeholders. "Rising demand for consumer goods and services in the region in line with favorable government policies supporting manufacturing facilities will continue to offer lucrative opportunities for the market players," said the FMI analyst. In 2018, the leading market players, including Goodyear Tires, Royal Dutch Shell plc and Kraton, collectively accounted for a ~35 percent share. Establishment of new manufacturing facilities where the cost of operation is relatively low and strategic positioning in the regional markets through acquisitions and joint venture with local players will remain key focal points of the leading stakeholders, according to the FMI analyst.

Tuesday, August 20, 2019 - Oslo, Norway - Elkem ASA acquired Basel Chemie, a Korean producer of specialty silicone gels for cosmetics and water repellents for the construction industry. The acquisition gives Elkem access to leading technology in attractive end-user silicone segments and provides a solid platform for further development and growth. Basel Chemie was founded in 1999 and has a state-of-the-art plant near Gunsan and a new research and development and office center in Seoul. The company has 32 employees and had an annual turnover of $7.7 million in 2018 and an average EBITDA margin of 28 percent over the last three years. The company is a technology driven downstream silicones producer with a high-end speciality portfolio for both skin care and colour cosmetic applications, and water repellents for the construction industry. The companies have agreed an enterprise value of $26.9 million for the acquisition. "This acquisition strengthens our position in downstream specialized silicones. Basel Chemie complements our market offering and brings additional technologies to our specialty portfolio in Asia where we have strong positions in other segments. This technology and offering also holds further global potential. Acquiring Basel Chemie is in line with our strategy to take further positions in selected, specialized silicone segments," says Helge Aasen, CEO of Elkem. Elkem will boost Basel Chemie's specialties through Elkem's global sales and distribution network, including access to and integration with offerings to current customers and new markets where Elkem is present. Basel Chemie will make Elkem a more comprehensive and attractive supplier within the cosmetics segment, and has an attractive product offering within building protection which can be leveraged outside Korea. The two companies will strengthen their research and development in both Asia and Europe and integrate their value chains. "Elkem expects to generate strong synergies from the acquisition within research and development, value chain optimization, complementary product offerings and global market positions. Basel Chemie's leading position and technologies will reinforce our silicones portfolio for the personal care industry where Elkem has global reach and complementary products. The company has a strong specialties position in the fast-growing innovative Korean cosmetics market, and we will get several synergies of integrating the global marketing offerings. In the building protection segment, Elkem holds market positions outside of Korea with significant potential for Basel Chemie's offering," says Frederic Jacquin, vice president of sales, Elkem Silicones. The acquisition is subject to final regulatory approvals. Closing is expected by the end of September 2019.

Tuesday, August 20, 2019 - Nashville, TN - Bridgestone Americas announced the expansion of the Firestone Transforce tire line to include new size offerings for Class 4-5 commercial truck vehicles. The Firestone Transforce AT2 is an all-position radial tire designed for all-terrain performance, featuring a tread design to promote traction in wet and winter conditions. With an innovative tread-to-road contact footprint, the Firestone Transforce AT2 tire is engineered to deliver lasting durability throughout its life. Three new sizes will soon be available for medium-duty commercial vans and trucks. “We depend on long- and regional-haul fleets to keep this country moving every day,” said Ben Johnson, director of marketing, truck and bus radial tires, U.S. and Canada, Bridgestone Americas Tire Operations (BATO). “We designed the Firestone Transforce AT2 tire with unique features for dependable, durable performance while driving in a variety of terrain and conditions with frequent starts and stops.” The all-terrain tire is designed with an innovative compound to prevent heat damage. This helps protect the integrity of the tire casing to promote future retreadability, enhancing the casing’s time in service and maximizing cost savings for fleets. The new Firestone Transforce AT2 tire size 225/70R19.5 LRF for medium-duty commercial vehicles is currently available in the U.S. and Canada with sizes 225/70R19.5 LRG and 245/70R19.5 LRG available by October 1, 2019.

Tuesday, August 20, 2019 - Madison, TN – Marangoni Tread North America announced that King Country Retread in Friona, TX, is now a proud member of the M.T.N.A. family of independent retreaders and will be offering Marangoni’s signature brand Ringtread (the splice-less retread) throughout Texas, Oklahoma and New Mexico. Mike King, president, King Country Retread, said, “Profitability and the ability to be an independent retreader with control over our future combined with the Ringtread spliceless technology were the key drivers that fueled our decision to go with Marangoni.” King Country Retread operates a state of the art commercial tire retread plant with a capacity of over 30,000 retreads a year. They offer a wide array of products and services to fleets throughout Texas. Clif Armstrong, president of Marangoni Tread N.A., commented, “Marangoni Tread North America is pleased to welcome King Country Retread to our Marangoni network of independent dealers. KCR has a great reputation of servicing their customers with the highest standard of quality. They are a great addition to the Marangoni Ringtread family of retreaders that value better and different high performance products, true value-added partnerships and business independence.”