Japan’s Sumitomo Rubber Industries has signed an acquisition agreement with Viaduct, Inc. a US-based AI solutions startup, for a total of US$104 million. The two companies have collaborated on joint proof-of-concept projects, combining Sumitomo’s proprietary tyre sensing technology, Sensing Core,…
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Nexen Tire expands footprint; new hubs in Europe, Latin America and Middle East
South Korea’s Nexen Tire announced the establishment of new branch office/subsidiaries in major markets, including Europe, Latin America, and the Middle East. This expansion is a strategic move to strengthen competitiveness in markets with growing tyre demand. With about 85% of…
China’s Longmarch to expand to Egypt
Chinese tyre manufacturer Long March Tire has announced its plan to establish a second overseas production base in Egypt. This major move comes after the successful operation of its first overseas plant in Pakistan, marking another milestone in the company’s international growth…
Continental sells OESL business to Regent
Germany’s Continental has announced the sale of its ContiTech Original Equipment Solutions (OESL) business area to US investment firm Regent. The sale is subject to antitrust approval. The parties have agreed not to disclose the purchase price or other details.…
Nexen introduces simulator to accelerate tyre development
South Korea’s Nexen Tire announced that it has established a driving simulator at its central research institute in Magok, Seoul, and held an opening ceremony to mark its official launch. This is the first time a driving simulator has been introduced…
Ceat to invest US$170 mn in tyre plant in Sri Lanka
Tyre maker Ceat OHT Lanka (Private) Limited has signed an agreement with the Board of Investment of Sri Lanka (BOI) to formalise a US$171 million investment, in a landmark development for Sri Lanka’s manufacturing and export sector. According to the…
Safic-Alcan expands in Asia with acquisition of rubber latex supplier
French speciality chemicals firm Safic-Alcan has acquired Ingredients Plus, a Malaysia-based specialty chemicals distributor with a strong historical presence in personal care, in Malaysia and Singapore. Headquartered in Shah Alam, Selangor, the company promotes ingredients for personal and home care,…
Pyrolysis reactors delivered to Enviro’s tyre recycling plant in Uddevalla
Tyre recycler Scandinavian Enviro says the delivery and installation of the five pyrolysis reactors have now commenced as planned at its tyre recycling plant, based on Enviro’s pyrolysis technology, being built by Enviro outside Uddevalla. The first reactor has arrived,…
Apollo Tyres to open winter and all-season testing facility in Finland
Apollo Tyres is opening a cutting-edge outdoor tyre testing facility at Ivalo, Finland, specifically engineered for winter and all-season tyre evaluation. Being developed under a long-term agreement with UTAC, a globally recognised automotive testing and certification group, the facility will…
Cabot acquires Bridgestone’s Mexican carbon black facility for US$70 mn
Carbon black manufacturer Cabot Corporation announced that it has entered into a definitive agreement to acquire Mexico Carbon Manufacturing S.A. de C.V. (MXCB) from Japanese tyre maker Bridgestone Corporation. The agreement is to acquire MXCB for US$70 million on a debt-free, cash-free basis, subject to…