Pyrolyx Exits Australian Stock Exchange

German tire pyrolysis company Pyrolyx AG has been delisted from the Australian Stock Exchange (ASX) and the Düsseldorf and Frankfurt stock markets following a lengthy closure of its manufacturing plants in the US and Germany.

According to Pyrolyx, the company was delisted from the ASX list after "failing to pay the annual listing fees on time." In addition, the company said it had notified the German markets of the delisting back on 21 August.

Pyrloyx explains its withdrawal from the stock exchanges by the need to preserve its remaining financial reserves; she notes that the move was made "in the interests of all owners of the company's securities."

Pyrolyx refers to its May 8, 2020 statement that the production of reduced carbon black (rCB) at its Terre Haute, Indiana (USA) and Stegelitz, Germany facilities has been halted amid the Covid-19 coronavirus pandemic. The company said it did not know when production would resume and that it would continue to review production and financial requirements to reopen the factories.

Pyrolyx, based in Munich, produces recovered carbon black from old tires at two plants in the US and Germany. The company is also building a second plant in the States, which was due to begin operations in the first quarter of this year.

Pyrolyx signed a five-year contract with Continental last November to supply recovered carbon black to a German tire and auto parts manufacturer.