Chinese tyre manufacturer Linglong says it plans to invest US$645 million to expand its production of tyres in Serbia’s northern city of Zrenjanin. The company says the investment is needed to meet rising demand in Europe. This project includes the…
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Bridgestone to go on cost cutting measures amid lower sales
Japan’s Bridgestone Corporation during its latest earnings call, detailed its strategy to navigate current market challenges and outlined its financial performance for the second quarter of fiscal 2024. The company reported an increase in revenue but a decrease in adjusted…
Goodyear to invest in Canadian tyre facility
Goodyear Tire & Rubber Co. in Canada is investing C$575 million to upgrade its plant in Napanee, Ontario, according to a statement released by the country’s Prime Minister Justin Trudeau. The project to modernise and expand the plant will create…
Orion scammed of US$60 mn through wire fraud
Chemical firm Orion S.A., a producer of carbon black, says it has lost approximately US$60 million through “multiple fraudulently induced outbound wire transfers to accounts controlled by unknown third parties.” The company lost the money after an employee was duped…
USMGC acquires South Carolina-based polyisoprene plant
US Medical Glove Company (USMGC), which is the only American manufacturer of the machines, components, and chemicals necessary to make nitrile and polyisoprene gloves in the US, has announced the acquisition of a domestic polyisoprene chemical facility in South Carolina.…
ZC Rubber breaks ground on third overseas tyre facility in Mexico
China’s ZC Rubber recently officially broke ground on its third overseas manufacturing facility in Saltillo, Mexico. This significant milestone marks a major step forward in the company’s global expansion strategy and commitment to meeting the growing demands of the tyre…
Bridgestone to invest in mining tyre plant in Japan
Japan’s Bridgestone Corporation says that it will invest ¥25 billion to upgrade equipment for certain facilities at the Kitakyushu Plant, which produces tyres for mining and construction vehicles. This upgrade will be completed by the end of 2027. This strategic…
Continental evaluating spin off of automotive unit
Due to the increasingly dynamic markets in the automotive industry, German firm Continental says it has decided, following a strategic review, to conduct a further detailed evaluation on spinning off the Automotive group sector. The aim of having two independent…
Continental increases recycled material content in tyres; rCB from Pyrum
German tyre maker Continental says it has concluded a long-term purchase agreement with Pyrum Innovations, a specialist in the thermolysis technology of end-of-life tyres, for carbon black (rCB) recovered from end-of-life tyres. Continental intends to use rCB in the series…
Nokian Tyres receives EUR150 mn EIB loan for Romanian tyre plant
The European Investment Bank (EIB) is lending Nokian Tyres EUR150 million for the construction in Romania of the world’s first plant for producing passenger car tyres without emitting carbon dioxide (CO2). The credit to Finland-based Nokian Tyres is for a…