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Michelin: takes over US group Lehigh Technologies.

(CercleFinance.com) - A specialist in recycled rubber through spraying, Lehigh Technologies has announced its acquisition by Michelin, the French tyre maker.

The financial terms of the deal were not specified.

Lehigh's cryogenic turbo-grinder technology transforms end-of-life tyres and other industrial rubber products into micrometric powders that are used in a wide range of consumer and industrial applications, Michelin's target said.

The powders produced by Lehigh Technologies make it possible to replace oil-based products and reduce costs, the group says on its website.

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