Having recently announced plans to cut jobs, mainly in Germany, silicones supplier Wacker is strengthening its specialties business in markets that are profitable, especially in Asia. The company has tied up with Chinese specialty silane producer and joint-venture partner Sico…
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Pyrum to top up EUR 21 mn capital increase for expansion projects
Tyre recycler Pyrum Innovations AG has announced a capital increase aimed at raising up to EUR21 million. Approved by the company’s supervisory board, the move will involve issuing up to 763,764 new shares priced at EUR1.00 each, with full dividend…
Sumitomo Rubber to rebrand subsidiaries to Dunlop brand
Sumitomo Rubber Industries has announced a strategic move to rebrand its overseas sales subsidiaries in Europe, North America, Oceania, and Latin America to incorporate the Dunlop brand name. This move follows the company’s acquisition of Dunlop trademark rights for four-wheel…
Yokohama opens passenger tyre plant in China ahead of schedule
Japan’s Yokohama Rubber Co. has opened a new passenger-car tyre plant in China’s Hangzhou. Located in Qiantang New District, Hangzhou City, Zhejiang Province, the 300,000 sq m plant site will produce 9 million passenger car tyres/year. Construction of the new China…
Prometeon to invest US$400 mn in expansion of Egyptian tyre plant
China’s Prometeon Tyre Manufacturing, a subsidiary of China National Tyre and Rubber Co., Ltd., plans to invest US$400 million to expand its operations in Egypt, producing 1.5 million additional tyres and upgrading its existing factory. A meeting was recently held with…
Wacker to slash 1,500 jobs by 2027; savings of EUR300 mn/year
In view of what it says is a “tense” business situation, German silicones firm Wacker Chemie is to make significant cost savings in its production environment and administration set-up, through job cuts mainly in Germany. Wacker posted a net loss of…
Tata Chemicals to expand capacity for silica/soda ash in India; cater to tyre/auto markets
India’s Tata Chemicals has approved two projects for capacity expansion at its manufacturing facilities in Gujarat and Tamil Nadu. The companys board approved an investment of Rs135 crore for expanding dense soda ash manufacturing capacity at its Mithapur plant, Gujarat, to…
Nokian to lay off staff at Finland tyre plant
Finnish tyre manufacturer Nokian Tyres has announced plans to cut nearly 700 roles as part of a wider cost and efficiency programme. The company said it will permanently reduce 35 white-collar positions in its home market and temporarily lay off…
Contitech to cut further jobs; relocate to lower cost countries
Faced with competition, especially from China, German auto/tyre maker Continental says it is planning additional global measures within its ContiTech sector, which is involved in the manufacturing of belts/hoses utilised across various industries, to achieve a competitive cost level. Early this year…
Continental to shut down tyre cord facility in US
German tyre maker Continental says it will discontinue operations at its Aldora Mills textile manufacturing plant in Barnesville, Georgia (U.S.), by the end of 2026. The facility employs approximately 230 people and produces textile reinforcement materials, including tyre cord fabric,…