UK – Tyres to power profits

RMC will be firing up its new plant at Rugby with shredded car tyres as part of a move to save UK£50m, restoring profits by next year.

Chief executive David Munro commented that the plans to use rubber tyres and other alternative energy sources rather than US$50/t high-quality South African coal would underpin the company’s recovery plan. RMC suffered a pretax, post-exceptional loss of UK£133m after its it was hit by UK£49m losses and a UK£205m write-down at its German operations.