Against the backdrop of weak demand from the automotive industry, Germany-based speciality chemicals firm Lanxess, which is facing what it says is a “temporary weakness in demand for its synthetic rubber”, is aiming to cut costs by EUR100 million per…
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Michelin sets major sustainable development objectives for 2020
The firm has laid the foundations for a New Phase of Dynamic Growth, led by its powerful innovation capabilities, improving competitiveness and robust gains in the most promising segments, says its CEO.
ITC probes firms on Toyo tyre design patent infringement
The tyre firm, which markets and sells tyres under the Toyo Tires and Nitto brands, says many of its designs are protected by patents issued by the US Patent and Trademark Office.
Italian group reports weak rubber, plastic machinery imports in H1 2013
According to a recent analysis of Assocomaplast, the decline in imports is attributable to a weak domestic market on an ongoing recovery.
Sale of two Cooper Tire plants to India’s Apollo Tyres delayed
An American arbitrator has said that Cooper Tire and Rubber Co. cannot sell two of its factories in the country to India’s Apollo Tyres until a collective bargaining agreement is reached between Apollo and members of the plants’ union. The…
Hankook to build proving R&D tyre centre
South Korean Hankook Tire plans to build a R&D centre in Sangju City with an investment of KRW240 million until 2020 for the construction of a top-tier proving ground. Covering a total area of 132 ha, it will be the…
Coatings firm Barrier buys stake in Aquaseal
BARRIER Group, an industrial coatings firm has bought 49% share in Aquaseal Rubber Ltd to assist the latter in business expansion and widening its market scope. Aquaseal Rubber, a family business run by managing director Jason Armstrong and his father,…
Italmatic and Tesco form JV in US
ITALIAN tyre retreading equipment maker Italmatic Group has formed a joint venture (JV) with Tesco of America Inc., a US automotive and tyre industries firm. The new business entity, which will be headquartered in Oakland Park in Florida, will be…
Hankook opens tyre plant in Indonesia
South Korean tyre company Hankook has officially opened its seventh global plant in Indonesia. Located in Lippo Cikarang, Bekasi, West Java, the company’s newest plant will act as an export base for the US and Middle East markets as well…
Delticom purchases compatriot Tirendo for EUR50 mn
Germany-based online tyre trader Delticom is buying Berlin-based online tyre retailer Tirendo Holding and its subsidiaries for EUR50 million. Delticom says it is acquiring a rapidly growing company with complementary strengths in IT and marketing. For Tirendo, Delticom is an…