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.

Comments (0)

ADD COMMENT

Link Copied!

Kraton Corporation, a leading global producer of speciality polymers and high-value bio-based chemicals derived from pine wood pulping co-products, a global price increase for all polymer products with effect from 1 April 2026. The price hike will range from USD 440 per MT to USD 700 per MT, or as individual contract terms permit, with the exact price change varying according to the polymer type and production location.

The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing conflict in the Middle East, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

Comments (0)

ADD COMMENT

Link Copied!

German specialty chemicals company LANXESS has announced a global price increase for its portfolio of functional additives for the manufacture of tyres and speciality rubbers. These changes, which are set to take effect immediately or as soon as individual contract terms permit, will see prices rise by 15 to 50 percent.

The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing geopolitical conflict, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

Comments (0)

ADD COMMENT

Link Copied!

Orion S.A., a global speciality chemicals company, has announced a global price increase for its portfolio of speciality carbon black. These changes, which are set to take effect immediately or as soon as individual contract terms permit, will see prices rise by up to 25 percent.

In a strategic move to address persistent market volatility, the company is also implementing a variable surcharge on top of the base price increase. The driving forces behind these significant pricing actions are multifaceted, rooted in substantial disruptions to global supply chains. These disruptions are largely attributed to the ongoing conflict in the Middle East, which has had a cascading effect on logistics. Compounding this issue are the sharply rising costs associated with transportation and essential raw materials.

Comments (0)

ADD COMMENT

Link Copied!

German chemical group WACKER has announced a price hike across its global polymers portfolio, responding directly to significant upheavals in international commodity markets triggered by the recent military conflict in the Middle East. This geopolitical instability has created pronounced distortions throughout the supply chain, leading to a sharp escalation in the costs of essential inputs. The company is experiencing substantially higher prices for crude oil and natural gas as well as for various other raw materials and logistics services.

To address this challenging economic landscape and offset the considerable burden of increased raw material and transportation expenses, the chemical group is implementing price adjustments effective 1 April 2026. The updated pricing will apply to several key product categories, specifically including polymer dispersions, a variety of resins and dispersible polymer powders. This strategic move is essential for the company to maintain operational stability and continue delivering its products reliably amidst the volatile market conditions.

The final scale of these price increases is not a fixed, across-the-board figure but will be determined by specific variables. It will largely depend on the original source of the product, with goods manufactured at the company’s European and Asian production sites being most affected. Furthermore, the terms outlined in existing customer contracts will also play a crucial role in defining the exact extent of the adjustment, ensuring a tailored approach to the implementation of this necessary price correction.

Comments (0)

ADD COMMENT

Link Copied!