British finance minister Philip Hammond’s budget statement this week will include measures to encourage the development of driverless and electric cars, artificial intelligence and telecommunications, the finance ministry said. Hammond is under pressure to turn around the fortunes of Prime…
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Continental starts construction of “Taraxagum Lab Anklam” research and test laboratory
Continental Reifen Deutschland GmbH today marked the start of construction of its “Taraxagum Lab Anklam” research and test laboratory in Mecklenburg-Western Pomerania with a traditional ground-breaking ceremony. Among those present were the Minister of Economics of the State of Mecklenburg-Western Pomerania, Harry…
Semperit and Shaw Almex to end cooperation agreement for the North American conveyor belt market
Sempertrans USA LLC and Shaw Almex Industries Ltd. Has agreed to end their cooperation agreement for the North American conveyor belt market which was started in 2016. Sempertrans USA has set up a sales and distribution organization for conveyor belts…
Goodyear completes purchase of Ventech Systems
The Goodyear Tire & Rubber Company has successfully completed the previously announced acquisition of Ventech Systems GmbH, a leader in automated tyre inspection technology, from Grenzebach Maschinenbau GmbH to support its fleet services in Europe and other geographies of the…
Bridgestone creates new mining solution business base in Australia
Bridgestone Earth mover Tyres Pty. Ltd. (BSEM), a subsidiary in Australia that sells and provides services related to tyres for mining vehicles and conveyor belts, has established a new mining solution base in the Pilbara region of Western Australia. The…
U.S. rejects Ford petition to delay recall of three million vehicles
The U.S. National Highway Traffic Safety Administration has rejected a petition by Ford Motor Co to delay recalling about 3 million vehicles with potentially defective air bag inflators to conduct additional testing. The agency said it did not find the…
Volkswagen to invest US$27 billion in core brand until 2022
German automaker Volkswagen will invest EUR22.8 billion (US$26.9 billion) in its main car brand over the next five years. Most of that sum, around EUR14 billion, will be spent in Germany, Volkswagen said, adding that one of the key measures…
Volkswagen taps Brazil growth; releases Virtus model
Volkswagen launched its new Virtus model on Thursday to tap Brazil’s highest-volume segment. The launch is part of a recovery plan that analysts said will help it regain ground on rivals General Motors and Fiat in South America’s largest car…
Toyota considering selling locally developed EVs in China
Toyota Motor is considering selling its locally designed and manufactured all-electric vehicle models in China, as it looks to expand its EV lineup and comply with Beijing’s upcoming new-energy vehicle (NEV) production and sales quotas. China has set strict quotas…
Lanxess lifts up 2017 profit guidance following strong demand for specialty chemicals
Germany’s Lanxess lifted the lower end of its earnings guidance range for 2017 after strong demand for specialty chemicals such as construction pigments and leather chemicals outweighed a weaker pesticide ingredients business. Lanxess – which makes synthetic rubber, engineering plastics…