FINDLAY, Ohio and PHOENIX, Ariz., Feb.
29, 2012 /PRNewswire/ -- COOPER TIRE & RUBBER
COMPANY (NYSE: CTB) and YULEX CORPORATION announced
today that they have entered into an agreement for the joint
evaluation and development of guayule polymers and resins for tire
applications. Under this agreement, Cooper will provide advanced
polymer and materials science expertise, and utilize its design,
development and testing capabilities as part of this project. Yulex
provides experience with the development and production of advanced
engineered biopolymers from the guayule plant. Terms of the
agreement are not being disclosed.
As the global supply for natural rubber continues to decline, it
is becoming increasingly vital to identify a sustainable, high
quality alternative source of natural rubber. The biopolymers Yulex
extracts from the guayule plant are used as a replacement for
traditional tropical or petroleum-based rubber. Production of this
bio-based material is ecologically responsible and carbon neutral,
and the material itself is valued for its physical performance,
including increased elasticity, functionality, reliability and
strength.
"The agreement between Cooper Tire and Yulex will facilitate
development of a domestic source of natural rubber leveraging
resources and capabilities of both companies," said Chuck Yurkovich, Cooper's Vice President of
Global Technology. "Our goal is to develop a reliable source of
natural rubber, significantly decreasing tire industry reliance on
foreign sources of raw materials. If successful, the program will
create a new agricultural polymer with broad based tire industry
applications, convert desert waste land into viable farm land for
associated crops, and create jobs for American workers."
Yulex CEO Jeff Martin added, "We
are excited to be partnering with Cooper Tire to develop a custom
technology utilizing the guayule plant for their next-generation
tire production. This agreement represents an outstanding
commercial opportunity and a significant validation of our
technology."
About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company (Cooper) is the parent company of
a global family of companies that specialize in the design,
manufacture, marketing, and sales of passenger car and light truck
tires. Cooper has joint ventures, affiliates and subsidiaries that
also specialize in medium truck, motorcycle and racing tires.
Cooper's headquarters is in Findlay,
Ohio, with manufacturing, sales, distribution, technical and
design facilities within its family of companies, located in 11
countries around the world. For more information on Cooper, visit
www.coopertire.com, www.facebook.com/coopertire,
www.twitter.com/coopertire.
About Yulex Corporation
Yulex Corporation has developed a portfolio of biobased elastomer
products derived from the U.S. grown guayule plant. Our
technological innovation is designed to replace traditional
tropical or petroleum based rubber for consumer, industrial and
medical markets, with the residual agricultural materials utilized
as a feedstock for bioenergy. We collaborate with our
customers to develop and market highly differentiated, premium
performance products in an ecologically responsible, sustainable
manner. For more, visit http://www.yulex.com.
Company
Contact:
|
Media
Contact:
|
Yulex
Corporation
|
Mentus,
Life Science
|
Jeff
Martin
|
Devin
Bennett
|
President
& CEO
|
(858)
455-5500 x320
|
888-310-2202
|
dbennett@mentus.com
|
jmartin@yulex.com
|
|
SOURCE Yulex Corporation