According to the recently released TechSci Research report, “Saudi Arabia Tyre Market Forecast & Opportunities, 2019”, tyre market in Saudi Arabia is forecast to grow at a CAGR of 17.19% in value terms during 2014-19. Prominent factors driving the market…
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Faster product delivery as Nynas launches Singapore hub
Specialty oils provider Nynas recently launched a hub in Singapore, making it faster to deliver its naphthenic specialty oils to customers and increasing their availability in the Asia Pacific region. Now, customers in Shanghai, Indonesia, Thailand and surrounding countries can…
Top Glove reports revenue decline in Q1
Top Glove Corporation Bhd’s earnings fell 3.1% to RM48.68mil in the first quarter ended Nov 30, 2014 from RM50.27mil a year ago due to an increase in natural gas and electricity prices, together with their knock-on inflationary effects. The world’s…
Malaysia reports NR exports upsurge
Malaysia’s natural rubber (NR) exports in October 2104 rose 0.5 per cent, or 260 tonnes, to 54,723 tonnes compared with September 2014, the Statistics Department said. In a statement today, the department said, however, on a year-on-year (y-o-y) basis, the…
Goodyear to relocate regional office in Brazil
Goodyear Tire & Rubber Co. will relocate its Latin America regional headquarters in Sao Paulo, Brazil, to Akron, Ohio, the tyremaker said. Roughly 30 to 50 positions at the regional office will move to Goodyear’s corporate headquarters starting in…
Hankook partners with private firm to jointly bid for Halla Visteon
South Korean tyre maker Hankook Tire is considering partnering with private equity firm Hahn & Company to jointly bid for Halla Visteon Climate Control Corp, an official at Hankook Tire told Reuters, without elaborating. Korea Economic Daily reported that Hahn…
Mitsui and Sinopec establishes jv to construct EPT rubber plant
Mitsui Chemicals and China Petroleum & Chemical have announced the startup of one of the world’s largest EPT (ethylene-propylene-dieneterpolymer) plant for a single train under their joint venture, Shanghai Sinopec Mitsui Elastomers. EPT, which has superior resistance to heat and…
Continental AG gains antitrust approval on Veyance acquisition
Reuters reports, “German auto supplier Continental AG won both US and Canadian antitrust approval to buy Veyance Technologies, a US-based maker of industrial hoses and belting, on condition that it sells certain assets, regulators said on Thursday. The US Department…
Hexpol on a buying spree: buys Portage Precision and Vigar; completes Kardoes buy
Compounder Hexpol has bought US rubber compounder Portage Precision for US$13.2 million. The consolidation happened in December. “The acquisition is a very good complement to Hexpol’s compounding in the US and broadens and strengthens our presence in rubber compounding. Portage…
New incentives to be proposed to assist Malaysian rubber smallholders
The Rural and Regional Development Ministry will propose to cabinet several new incentives soon to assist the rubber smallholders who were affected by the intensive decline in the commodity’s prices. Its Minister Datuk Seri Mohd Shafie Apdal said the incentives…