According to "European Rubber Magazine": Pyrolyx, a company that produces rCB by pyrolysis of waste tires, has long-term suspension of production at its US and German factories due to the new crown epidemic. The Erdorf and Frankfurt stock markets are delisted.
Paralux is headquartered in Munich, Germany. It is a manufacturer of waste tire pyrolysis recycled carbon black (rCB) and has production plants in the United States and Germany. The company is also building a third plant in Terre Haute, Indiana, USA, which was originally scheduled to be completed in the first quarter of 2020.
Paroles issued an announcement in early May stating that its rCB factories in Terre Haute, USA and Stegelitz, Germany have been closed during the COVID-19 pandemic. The company stated in the announcement that it had delisted from the Australian Securities Exchange because it "failed to pay the annual listing fees before the due date". In addition, the company stated that it had notified the German securities market about the delisting information on August 21, and said that the delisting will take effect at the end of that month.
The company stated that it "has no way" to determine when the plant will resume production, adding that it will continue to evaluate the operational and financial needs of the plant to reopen. To this end, it is necessary for the company to retain its remaining financial reserves. It stated that delisting from the trading market "is in the best interests of all security holders."
In November last year, the company signed a five-year contract with the German Continental Tire Company to provide the German tire and rubber products manufacturer with rCB for tire production.
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