Life for Tyres Group Limited to build U.S. facility in Louisiana

Life for Tyres Group Limited (L4T), an end-of-life tire recycling company based in Europe with manufacturing facilities for sustainable commodities, revealed it will invest $46 million to establish its first U.S. processing facility on 10 acres at the Port of South Louisiana. The recycling and manufacturing plant, L4T Louisiana LLC, will convert end-of-life tires into high-quality sustainable commodities such as advanced biofuel feedstock, recovered carbon black and scrap steel, the company said. L4T said it expects to create 46 direct new jobs in St. John the Baptist Parish. Louisiana Economic Development estimates the project will result in 151 indirect new jobs, for a total of 197 potential new jobs in the Southeast region.

“This new project is a perfect example of the power of the ports to drive investment and job creation in Louisiana,” Governor Jeff Landry said. “In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals.”

Life for Tyres Group said its patented technology enables it to manufacture high-quality secondary raw materials such as recovered carbon black, green oil and steel, which are then used in industrial processes. The company’s approach reduces up to 90% of greenhouse gas emissions when compared with conventional tire recycling processes, it said.

L4T’s Louisiana facility is part of a broader global expansion plan by the company, which is headquartered in Ireland and recently opened a plant in Puertollano, Spain.

To secure the project, the state of Louisiana offered a competitive incentives package that includes the comprehensive workforce development solutions of LED FastStart, which provides customized employee recruitment, screening, training development and training delivery for eligible new or expanding companies. It also includes a performance-based grant of $1 million to be used for reimbursement of company expenditures for site improvements. The company is also expected to participate in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.

The Goodyear Tire & Rubber Company has named Ryan Waldron as president of the company's Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on April 1.

"At Goodyear, our customers are at the center of everything we do, and in Ryan Waldron, we have a customer-centric, execution-focused business leader with a deep understanding of both the marketplace and all aspects of our business, as well as a proven track record of delivering results," Stewart said. "I am thrilled to announce him as president of Goodyear's Americas business and have enormous confidence that under his leadership, both the company and our customers will reach even greater levels of success."