As one of its cost-cutting exercises globally, US tyre maker Goodyear plans to shut down its plant in Malaysia in June, a decision expected to affect more than 500 employees. Goodyear said the decision to shutter the plant in the…
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Guizhou Tyre to invest in tyre facility in Vietnam
China’s Guizhou Tyre is planning to invest US$228 million to build a new factory in Vietnam. The tyre maker plans to set up the new automated production factory near its plants in T?nh Ti?n Giang, it said recently. The plant…
Marubeni to invest in German rCB firm
Japan’s Marubeni Corporation says it has concluded an agreement with RCB Nanotechnologies GmbH to acquire RCBNano shares through the underwriting of a third-party allotment for new shares. RCBNano, which is headquartered in Germany, is currently constructing a plant to produce…
Bridgestone to invest EUR200 mn in Spanish tyre plant
Tyre maker Bridgestone EMEA has announced a historic investment of up to EUR207 million in its Burgos passenger tyre manufacturing site in Spain, one of its largest to date in Europe. The investment aims to raise tyre manufacturing at the…
South Korean firms jointly develop tyre from recycled PET
To reduce carbon emissions, the South Korean industrial sector has developed and commercialised what it says is the country’s first tyre using chemically recycled polyethylene terephthalate (PET). South Korean companies SK Chemicals, Hyosung Advanced Materials, and Hankook Tire & Technology…
Firemax to pump in US$190 mn in tyre facility in Cambodia
Chinese tyre maker Shouguang Firemax intends to invest in a new production facility in Cambodia, according to a filing with Chinese tax authorities. The company expects to invest US$190 million in the tyre facility with an expected capacity of 8…
Titan acquires tyre maker Carlstar for US$300 mn
US-based Titan International, manufacturer of off-highway wheels, tyres, assemblies, and undercarriage products, has announced the acquisition of Carlstar Group for approximately US$296 million in a transaction consisting of cash and stock, which closed recently, subject to completion of the wire…
Nokian ties up with Enviro/Antin for sustainable rCB
Tyre maker Nokian Tyres says it has made a long-term purchase agreement with a tyre recycling joint venture, namely Antin Infrastructure Partners and Scandinavian Enviro Systems, for sustainable material. The agreement will help Nokian Tyres reach one of its key sustainability…
Bridgestone to withdraw from commercial tyre business in China
Japanese tyre maker Bridgestone Corporation says it has been strengthening its premium focus in China as part of its “Rebuild Earning Power” initiative, since 2021. In its next three- year plan, the Mid-Term Business Plan (2024-2026), Bridgestone will further intensify…
Arlanxeo to construct new HNBR plant in China
Synthetic rubber producer Arlanxeo has announced the planned construction of a hydrogenated nitrile butadiene rubber (HNBR) plant in Changzhou, China. With a nameplate annual production capacity of 5,000 tonnes, the first phase of construction will allow for the production of…