Friday, August 7, 2020 - Cleveland, OH - Lubrizol Corporation has acquired Avid Product Development, LLC, a provider of engineering and additive manufacturing services. Avid offers a unique blend of 3D printing capabilities, including design for additive manufacturing (DfAM), prototyping and production using powder bed fusion (MJF, SLS), fused filament fabrication (FFF) and stereolithography (SLA), with expertise in various post-processing technologies. The 3D printing industry continues to rapidly grow, creating an immense opportunity for companies leveraging 3D printing services as part of their portfolios. Today, OEMs (original equipment manufacturers) interested in 3D printing are seeking partners who can assist in their efforts to integrate this new technology into their processes. Lubrizol’s materials, application and testing expertise coupled with Avid’s 3D printing design, prototyping and post-processing know-how will enable development of differentiated solutions for customers and accelerate adoption of 3D printing in key industries. “Lubrizol continues to invest in opportunities that bring new differentiated solutions to our customers,” says Gert-Jan Nijhuis, general manager, 3D Printing Solutions, Lubrizol Engineered Materials. “The acquisition of Avid Product Development greatly enhances our ability as a 3D printing solution provider, offering complete product solutions from material development to printing and post processing services, delivering end-use products for our key markets.” “As a result of this acquisition, we will have vast opportunities to demonstrate our capabilities in engineering, design and manufacturing with the support of an industry leader in materials development, applications and testing,” added Doug Collins, founder of Avid Product Development. Avid is headquartered in Loveland, CO, and serves customers in the footwear, consumer goods, industrial and medical markets. Avid won the 2019 Colorado Company to Watch award, and continues to create innovative solutions, including designing and 3D printing of critical personal protection equipment (PPE) to meet the urgent needs of healthcare workers and essential businesses during the COVID-19 pandemic.

Friday, August 7, 2020 - Toledo, OH - Brenntag North America, Inc., announces the opening of a new full line distribution center in Toledo, OH. Located in the Great Lakes region, this facility comprises approximately 230,000 square feet and will be used for storage and distribution of chemical, specialty and ingredient products. These products include commodity products, solvents, surfactants, specialties and food ingredients. In addition to having a seven acre tank farm on an adjacent property, the location will have both interior and exterior rail service to serve all Brenntag industries. “Toledo provides a perfect location to improve service levels and grow volumes with the existing customer base in Michigan and Indiana, while increasing growth opportunities in Ohio,” stated Dan Arneson, president, Brenntag Great Lakes. “Brenntag’s global supply and distribution network is now fully available to local customers in the tri-state area. The combination of our dedicated employees, innovative supplier base, and strong customer focus will provide our customers with fast response times, efficient low-cost logistics, and expert technical and market support.” Safety is the number one priority at Brenntag. To further support this core value, the facility is equipped with the most modern technology to ensure a safe, controlled environment. The redevelopment has been established in collaboration with the Ohio rail development commission, as well as other agencies, and is projected to bring in over 40 new driver, warehouse and production job opportunities to Lucas County by 2022. “This advanced rail connected distribution center in Toledo is the beginning of a new growth cycle for Brenntag in the Michigan, Indiana and Ohio area. Our principle objective has always been, and will continue to be, to serve the needs of our customers and suppliers in the safest and most efficient manner possible. In addition, our dedicated specialty product storage and logistics capabilities will provide our customers with an extra service dimension,” said Steven Terwindt, COO, Brenntag North America.

Friday, August 7, 2020 - Greenville, SC - Michelin North America Inc. announced it is launching the fuel-efficient Michelin X One Line Energy T2 tire for the North American line-haul market. The tire is Michelin’s most fuel-efficient trailer tire to date, the company says, based on internal rolling resistance tests using comparable line-haul trailer tires in tire size 275/80R22.5 LRG for the Michelin X Line Energy T and 445/50R22.5 LRL for the Michelin X One Line Energy T2 tire. The SmartWay-verified X One Line Energy T2 is targeted for the dry van truckload, refrigerated truckload and tanker segments. According to the American Transportation Research Institute, fuel ranks first in vehicle-based costs, above repair and maintenance, insurance and other costs. The X One Energy T2 can increase fuel savings through an 11 percent lower rolling resistance when used in the trailer position, based on third party rolling resistance tests, and can increase revenue by carrying up to 287 more pounds of payload, Michelin states. “The trailer wheel position is a challenging position for long haul tire design. The free rolling wheel position is subject to variable loads, less maintenance and irregular wear,” said Adam Murphy, vice president of B2B marketing for Michelin North America. “Michelin is committed to investing in our X One technology,” he said. “This new Michelin X One Line Energy T2 product delivers both improved tread wear while providing fuel and weight savings, lowering the total cost of ownership for fleets, especially during this economically challenged time in the trucking industry.” According to Michelin, the X One Line Energy T2 features a tread design that helps prevent irregular wear and incorporates compounds designed to improve resistance to late-life tire aggression. The dual-compound tread consists of a mileage top layer that controls tread stiffness and stress to reduce irregular wear and a fuel-efficient bottom layer that minimizes internal casing temperatures for low rolling resistance. The tread incorporates directional micro-sipes, resulting in a directional tire for the first half of tire life. Located along the center ribs, matrix siping with zigzag walls interlock for squirm resistance.

Friday, August 7, 2020 - Quincy, IL - Titan International, Inc. reported results for the second quarter ended June 30. Net sales for the second quarter of 2020 were $286.1 million, compared to net sales of $390.6 million for the second quarter of 2019, representing a $104.5 million, or 26.7 percent, decrease. On a constant currency basis, net sales for the second quarter 2020 would have been $305.9 million. Net loss applicable to common shareholders for the second quarter of 2020 was $5.0 million, equal to a loss of $0.08 per basic and diluted share, compared to loss of $7.1 million, equal to a loss of $0.12 per basic and diluted share, in the second quarter of 2019. Net sales for the first six months of 2020 were $627.6 million, compared to net sales of $801.0 million for the first six months of 2019, representing a $173.3 million, or 21.6 percent, decrease. On a constant currency basis, net sales for the first six months of 2020 would have been $660.1 million. Net loss applicable to common shareholders for the first six months of 2020 was $30.5 million, equal to a loss of $0.50 per basic and diluted share, compared to loss of $5.9 million, equal to a loss of $0.10 per basic and diluted share, for the first six months of 2019. "Our strong focus on protecting the balance sheet, via cash preservation, accessing additional liquidity and improving our working capital position are each positive takeaways from the second quarter," stated Paul Reitz, president and chief executive officer. "We were able to increase our cash balance nearly $20 million during the quarter while maintaining a similar net debt position. This improved position will aid Titan as we continue to navigate the effects of the COVID-19 pandemic. The One Titan global team remains focused on the safety of our people while proudly serving our customers, and I want to again thank the team for their tremendous commitment and diligent efforts throughout this pandemic. In early May, during our most recent earnings announcement, we outlined several key actions we had implemented in response to the COVID-19 pandemic and in the midst of tremendous uncertainty. I am very pleased to report that our actions and efforts have been effective. As expected, Titan had significant disruptions with plant shutdowns due to dislocation in demand primarily from OEM customers, along with some government restrictions during April. During the remainder of the quarter, production levels improved; however, we continued to experience disruptions due to lower demand from our customers. Our ITM undercarriage business saw the deepest impact from lower customer demand across most geographies, particularly within the construction market. "We entered the second quarter expecting this period to be the most challenging of the year and perhaps in Titan's long history. Our results demonstrate that we've navigated the challenges quite well, but like many companies we remain in an environment with limited demand visibility from our customers and also where the information we are receiving is often conflicting and changing rapidly. We continue to see an unusually high level of drop-in orders and we must remain nimble and flexible to quickly respond to meet those customer demands. Typically, we experience a sales slowdown in the third quarter due to the normal summer maintenance shutdowns and employee holidays, which we anticipate will be further exacerbated by the effects of the continuing COVID-19 pandemic. Therefore, we'll continue to remain diligently focused on making timely decisions and taking quick actions to adjust to demand fluctuations. Also, the liquidity actions we have taken have better positioned us to handle this crisis and we remain hopeful for some potential rebound in demand later in the year leading into 2021."

Friday, August 7, 2020 - Pune, India - The global automotive rubber molded components market is set to rise from its initial estimated value of $35.01 billion in 2018 to an estimated value of $57.51 billion by 2026, registering a CAGR of 6.4 percent in the forecast period of 2019-2026, according to Data Bridge Market Research. This rise in market value can be attributed to the innovations and advancements in the rubber molding market along with the rising number of vehicle sales. Few of the major competitors currently working in the automotive rubber molded components market are Continental AG, Dana Limited, Federal-Mogul LLC, Hutchinson, Cooper Standard, Toyoda Gosei Co. Ltd., Sumitomo Riko Company Limited, SKF, Freudenberg & Co. KG, Trelleborg AB, Alp Group, Bohra Rubber Pvt. Ltd., Hebei Shida Seal Group Co. Ltd., NOK Corporation, Steele Rubber Products, Rubber The Right Way, Timco Rubber, Tubular Products Company, CGR Products, and Minnesota Rubber and Plastics.

Friday, August 7, 2020 - Santa Ana, CA – With baseball finally resuming, the decade-long partnership between Yokohama Tire and the Los Angeles Angels continues. Yokohama has been a sponsor of the American League West team since 2011, and the tire maker’s corporate logo will again be featured prominently in left center field, where three-time American League MVP Mike Trout plays. “Yokohama continues to benefit from our 10-year relationship with the Los Angeles Angels,” said Alan Holtschneider, Yokohama’s director of marketing. “They’ve been a phenomenal marketing partner, helping us build strong brand awareness for Yokohama tires among their passionate fan base.” As part of the 2020 sponsorship program, Holtschneider said Yokohama will also have more branding opportunities, including field signage along the first base and third baselines for one inning during each game. “The shortened 60-game season is going to be thrilling,” said Holtschneider. “With Mike Trout, 2018 Rookie of the Year Shohei Ohtani, and the off-season signing of third baseman Anthony Rendon, the Angels have a powerhouse team that will be one of the most exciting clubs in baseball to watch.” Along with the Los Angeles Angels, Yokohama’s 2020 sports sponsorship roster includes motor sports series such as the Porsche GT3 Cup Challenge USA by Yokohama, the Porsche Sprint Trophy USA West, Porsche Pikes Peak Trophy by Yokohama, Global Time Attack and Super Lap Battle USA, SCORE and several other motor sports events.