Following its double-digit million euro investment and after less than 18 months of construction, German materials company Evonik has officially opened its new multi-purpose silicones manufacturing facility in Geesthacht, Germany. Located in Northern Germany, 30 km outside the port…
Category: Investments
Chinese rubber track manufacturer to build first plant in the US
Global Track Manufacturing (Global Track) will invest at least US$2.5 million in a production plant in Milan, Tennessee, touted to bring at least 250 jobs to the area by 2021, according to the Tennessee Department of Economic and Community Development…
Guizhou Tyre to raise production with new plants in China, Vietnam
China-based tyre manufacturer Guizhou Tyre recently broke ground on two new production plants near the company’s headquarters in Guizhou, Guiyang Province. Once constructed and fully operational, the US$307 million plant is expected to generate nearly US$426 million annually from its…
Arlanxeo invests in CR and NBR globally
Synthetic elastomers company Arlanxeo is strengthening its market position by investing in its high-performance elastomer products CR (chloroprene rubber) and NBR (nitrile butadiene rubber), laying the foundation for the further increase of production capacity in order to meet the increasing…
China’s General Science to start trial run at Thai tyre plant
China-based company Jiangsu General Science Technology will trial its US$300 million tyre production plant in December 2019 in Rayong Industrial Zone, Thailand, which is currently the world’s largest rubber producer. The plant is to produce 1 million truck/bus tyres and…
Thai rubber production to drop; measures underway for existing stock
Dismal rubber prices have pushed Thailand’s Agriculture and Cooperatives Minister, Chalermchai Sri-on, to formulate solutions to the tackle problem. The Agriculture Ministry is to work with the Rubber Authority of Thailand (RAT) to survey the market’s rubber demand and set…
Avon Rubber to acquire 3M’s ballistic-protection business for US$126 mn
UK’s Avon Rubber is to acquire 3M’s ballistic-protection business and the rights to the Ceradyne brand for a sum of US$126 million The deal included an initial cash amount of US$126 million and a further contingent cash consideration of up…
Toyo Tire to build Serbian factory by 2020; production geared for 2022
Toyo Tire will begin the construction of a “smart” production plant in Indjija, Serbia, by May 2020 after an initial investment of US$434.7 million. The Japanese company expects to initiate manufacturing operations in two years of the plant’s completion, with…
Bridgestone India to invest US$51m in Indore plant capacity
Bridgestone India is set to invest over US$51 million (Rs350 crore) to expand its manufacturing plant in Indore, west-central India. The tyre major expects to boost capacity at the plant to over 20,000 tyres daily by 2020, and further enables…
Continental to build EUR26 mn motorcycle tyre factory in Thailand
German tyre maker Continental has laid the cornerstone for a new motorcycle tyre factory in Rayong, Thailand. In the course of the next few years, the company plans to invest approximately EUR26 million. When the plant comes on stream in…