Michelin acquires specialty materials firm Lehigh Technologies
Michelin has acquired Lehigh Technologies, a specialty materials company that uses patented cryogenic turbo mill technology to transform rubber from end-of-life tyres and industrial goods into materials for new tyres and other products, reducing the amount of raw materials initially needed, such as elastomers and fillers from oil- and rubber-based sources. Michelin completed the acquisition on October 13, 2017.
“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. Lehigh Technologies, the technological leader in this area, is a natural fit, as it will equip Michelin with tools to reduce the amount of raw materials that we need to produce new products for all of our current and future customers in the tire and non-tyre industries,” said Pete Selleck, chairman and president of Michelin
Lehigh Technologies, based in Tucker, near Atlanta, employs about 100 people. The firm produces
highly engineered, versatile raw materials called micronised rubber powder (MRP). MRP is a low-cost, high-performance, sustainable material that substitutes for other oil- and rubber-based materials used in manufacturing tyres, plastics, asphalt and construction materials. Its customers include some of the largest tyre 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. With the full backing of Michelin, we can continue to expand our capabilities, execute our global growth strategy and pursue new market opportunities,” said Alan Barton, CEO of Lehigh Technologies.