Abstract: A novel thermoplastic, elastomeric material is obtained by curing under shear conditions (e.g. in a high shear internal mixer) a blend of vulcanizable rubber (e.g. SBR, EPDM) and a bituminous material (e.g., asphalt) in the presence of a rubber vulcanizing agent (e.g. sulfur or peroxide). The product has a unique combination of elastomeric and thermoplastic properties. It can be processed by conventional thermoplastic methods at elevated temperatures (e.g. extrusion, calendering, vacuum forming) and at normal temperatures possesses good elastomeric properties without the need for subsequent vulcanization. If desired, the material can be re-processed.