New York-based Warburg Pincus is investing in “compulsorily convertible preference shares” issued by India’s Apollo Tyres. Compulsorily convertible preference shares are defined as shares that the purchaser plans to convert into ordinary shares after a predetermined date; converting preference shares…
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4JET acquires tyre inspection business of Hennecke Systems
The 4JET Group (Alsdorf, Germany) has acquired the TIS testing systems business unit for tyres and wheels from Hennecke Systems. TIS systems are based on Hennecke Systems’ know-how in industrial image processing and enable optical 2D and 3D inspection of…
Yokohama adds three new commercial models to truck tyre range
Yokohama Tire has launched a set of three new commercial truck tyres – the 504C and 115R, a pair of all-position models and the 714R, for urban pick-up/delivery; Yokohama will also expand the size range of the 715R open-shoulder regional…
Linglong Tire’s SSE placement to raise funds for Hubei plant
Chinese tyre manufacturer Shandong Linglong Tire (Linglong) plans to raise up about US$289 million for its ongoing Jingmen project in Hubei province, China, through a public placement on the Shanghai Stock Exchange (SSE). The Jingmen project is the company’s fourth…
Global volume demand for rubber processing chemicals to expand 4.2%/yr by 2023
The rising standards for tyre lifespans and the popularity of tyres for use in a wide range of conditions will support a steady increase in antidegradant parts-per-hundred-rubber (PHR) rates, and subsequently the global volume demand for rubber processing chemicals, which…
Wacker’s 2020 cost-saving effort to also see 1,000 jobs slashed
Following Wacker Chemie’s (Wacker) reported loss of US$680 million in its preliminary figures for 2019, the international chemical company has planned a restructuring programme called “Shape the Future,” which is aimed at saving nearly US$270 million each year and will…
Pirelli sets plan to increase margin growth by 2022; to resume operations at Chinese plants
The tyre manufacturer for high-end carmakers and racing teams, Pirelli, announced a new strategic plan recently in which it would focus on margin growth over the next two years. The company expects its margin on adjusted earnings before interest and…
HF Group to launch new benchmark in tyre splice measuring
Germany-based HF TireTech Group (HF) will introduce its latest innovation in tyre production, the HF Q Guard, which enables precise splice measuring, quality control, and traceability in the production process – the company claims that the system ensures tyres are…
BREAKING: Honda Philippines to cease auto production by March
Honda Cars Philippines (HCPI), which produces passenger cars, BR-V, City has announced that it will stop production operations in its plant in Sta. Rosa, Laguna, effective March, 2020. According to its press statement released today, to meet Honda’s customer needs…
London, UK street “first” to have recycled tyres mixed into the asphalt
Old tyres have been used in the asphalt mix on Canrobert Street in London’s Bethnal Green area, laid by city council contractors at the end of January. The council has been working with UK supplier Tarmac, the company behind new…