Tyre brand Dmack, famous for being the second tyre supplier in the 2011 FIA World Rally Championship has secured an investment of £3.5m from private equity managers Maven. The investment is expected to fund the next wave of the company’s…
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China’s rubber formula move to hurt Southeast Asian markets
China recently approved a new standard formula that sees the amount of natural rubber reduced in a move which analysts predict will hurt Thai and Malaysian rubber markets. Compound rubber, which includes small amounts of powdered carbon, is popular in…
BMW to share costs of overstocked cars
Automotive company BMW will pay 5.1 billion yuan ($US820 million) to disgruntled auto dealers in in China who complained that the cost of overstocked showrooms must be shared. The luxury car maker is facing cutthroat competition: for example, it’s range…
Rubber imports jump in India
India has seen a 19 % rise in its imports of natural rubber to 33,156 tonnes from a year earlier, India’s Rubber Board said, due to a dip in local output and lower global rubber prices. Also, there is a…
Company fined for raw rubber smuggling attempt
Malaysian company Syarikat Lam Aik’s Ahmad Liaw Abdullah was fined RM75,000 by the Sabah Rubber Industry Board (SRIB) for their attempt to smuggle out 20.18 tonnes of raw rubber to Sarawak in October last year. The company had falsified documents…
Driven Brands to be sold for US$600 mn?
US-based Driven Brands, the owner of franchised US automotive repair chains including Maaco and Meineke Car Care, is exploring a sale that could value it at more than US$600 million, according to a Reuters report. Driven Brands is owned by…
EnPro completes GRT rubber unit sale
US-based EnPro has completed the US$44 million sale of its GRT rubber manufacturing unit to GRT Rubber Technologies, a newly formed business funded by an investor group led by Main Street Capital Corp. EnPro will make Fabrico part of its…
World total rubber demand to increase, predicts report
The newly-released World Rubber Industry Outlook has predicted that world total rubber demand is forecast to increase at 1.8% and 4.1% in 2015 and 2016 respectively…
Case against Apollo Tyres dismissed
The US court has struck out the case against Indian Apollo Tyres brought by US firm Cooper Tire and Rubber. Apollo was in a deal to buy Cooper but the latter later pulled out. “Pursuant to the ruling by Vice…
Hexpol to buy over RheTech
Rubber compounds company Hexpol has agreed to buy over polymer compounder RheTech Thermoplastic Compounding for US$112 million on a cash and debt free basis. “The acquisition expands Hexpol Compounding NAFTA´s capabilities and capacities within Polymer Compounding and is a very…