Citing people who are familiar with the matter, the Korea Economic Daily reported that HS Hyosung Advanced Materials Corp. is exploring a sale of its tyre steel cord business that could fetch about 1.5 trillion won ($1 billion).

According to the report, the South Korean manufacturer plans to kick off a preliminary bidding process by the end of February. The people asked not to be identified because the information is private.

The unit generates about 40 percent of the company’s profit. Its sales were 860 billion won last year, and its EBITDA was 140 billion won.

The potential divestment is part of a broader push by Vice Chairman Cho Hyun-sang to pivot toward growth areas including electric vehicle materials, hydrogen and artificial intelligence. Cho, who leads HS Hyosung Group after its spinoff from Hyosung Group in July, is the founder’s third son.

HS Hyosung is the world’s only producer of all three major tyre reinforcements: steel cord, nylon tyre cord, and polyester tyre cord.

The steel cord unit, which bundles thin wires to help tyres absorb shock and improve ride comfort, holds leading market positions in North America and Europe.

A representative for HS Hyosung declined to comment, added the Korea Economic Daily.

Tyre cords are crucial components that enhance tyre durability and driving performance by maintaining shape and supporting vehicle weight.

The company is seeking to divest the steel cord operation, which has less synergy with its core specialty fiber business, to fund investments in new ventures, the people said.

The Synthetic Turf Council (STC) has expressed strong opposition to the proposed motion to ban synthetic turf in Santa Clara County. Melanie Taylor, President and CEO of the organisation, submitted a testimony in this regard to the Santa Clara County Board of Supervisors, highlighting the significant environmental and community benefits of synthetic turf while addressing concerns related to safety and accessibility.

There was strong resistance to the proposed turf ban from parents, football players and business owners when the Santa Clara County Board of Supervisors last discussed the proposal in August. In fact, several of these people spoke out against the proposed turf ban at a Board meeting on August 13. Seventy-five percent of public remarks were about synthetic turf, despite the fact that it was not on the official agenda that day. Notably, pro-turf speakers exceeded anti-turf ones by a 2:1 ratio.

Over the last few months, STC has taken a number of initiatives to express its strong objection to the prohibition. Before the Board tabled the proposal to limit turf usage throughout the county for reconsideration in January, Taylor sent written evidence to the Board in August. In an article arguing against the proposed ban before to that August hearing, STC emphasised the industry's dedication to coming up with creative ways to preserve fields nearing the end of their useful lives and guaranteeing the safety of its goods by removing purposefully added PFAS from synthetic grass.

Taylor said, "Recreational fields are more than just playing surfaces, they are essential community infrastructure. Families, schools and businesses choose synthetic turf because it provides year-round access to affordable, durable and eco-friendly fields, especially in drought-prone states like California. A ban on turf in Santa Clara County will only hurt communities by depriving them of these long-term benefits and cost savings that turf uniquely provides."

The Association of Natural Rubber Producing Countries (ANRPC) has released its Monthly NR Statistical Report for December 2024.

According to the report, robust market fundamentals and increased trading activity brought on by year-end orders before the Lunar New Year holidays in January helped to somewhat raise the average monthly prices for natural rubber (NR) in December. But because of poor economic conditions, this increasing trend – which was first fuelled by China's stimulus measures, which were implemented in late September – lost steam. Furthermore, ongoing threats from US tariffs impacted market stability and caused anxiety.

With more import orders and more rubber coming from Thailand as a result of less rainfall, China's natural rubber stockpile began to grow by the middle of December. Although there were some encouraging advances overall, the report also notes that the market continues to face the previously highlighted difficulties that might affect future price stability.

With the revision on Indonesian and Cambodian output, the prognosis for worldwide NR production in 2024 is up 2.8 percent from the previous year, according to the performance and updates from ANRPC member countries (AMC). With the change from Indonesia and Malaysia, the global demand growth projection for 2024 is up 1.8 percent.

Evonik Industries AG launched Smart Effects, a new 3,500-employee entity combining its silica and silane operations, as the German speciality chemicals maker pushes further into sustainable technologies.

According to a company statement, the unit began operations on 1January, will be part of the company’s Advanced Technologies division and target the automotive, electronics, consumer health, and building materials markets.

“This merger not only enhances our customer relationships but also allows us to advance sustainability in key markets,” said Emmanuel Auer, who heads the Smart Effects business line.

The combined unit will supply materials for electric vehicle batteries and semiconductors while developing new technologies, such as adsorbents for direct air capture of carbon dioxide. Its silica-silane combinations are already used in fuel-efficient “green” tyres.

“The new business line is a strategic step by Evonik to strengthen the financing power of our complementary Silanes, precipitated and fumed Silica technology platforms,” stated Lauren Kjeldsen, President of Smart Materials Division at Evonik. “By combining our expertise in molecular silane chemistry and silica particle design, we can deliver differentiated solutions that add value to our customers with a tailored portfolio approach.”

“With Smart Effects, we aim to go beyond in industry,” Auer concluded. “Our goal is to deliver value for our customers by innovative, complementary technologies based on molecules and particles, driven by circular solutions and sustainable effects in applications.”

Smart Effects will maintain local sales teams and tech centers serving customers in over 100 countries, supported by manufacturing facilities across six continents, the company said. The merger aims to streamline innovation in joint applications and technical processes.

Evonik developed surface-modified silica carriers with amino silanes that can extract CO2 from the atmosphere as part of its sustainability push. The company said the new structure will help accelerate similar innovations targeting environmental challenges.

Four Japanese organisations announced a joint venture to develop advanced recycling technology for used tyres, aiming to produce environmentally friendly carbon black with properties matching virgin materials.

Tokai Carbon Co., Bridgestone Corporation, Kyushu University and Okayama University will collaborate on converting recovered carbon black from end-of-life tyres into eco Carbon Black (eCB), targeting performance levels equivalent to petroleum-derived materials.

The project, selected by Japan's New Energy and Industrial Technology Development Organisation in December 2024, aims to establish a demonstration plant capable of producing 5,000 tonnes of eCB annually by 2032.

The initiative addresses growing environmental concerns in tyre manufacturing, as traditional carbon black production relies heavily on petroleum and coal.

Bridgestone will evaluate the rubber properties and conduct practical tyre testing, while the universities will focus on research and development of special polymers and composites.

The project is part of Japan's broader Green Innovation Fund Project, supporting the country's transition toward carbon neutrality and circular economy goals.