Germany’s Continental is to purchase Australia’s Kmart Tyre and Auto Service (KTAS) from its current owner, Wesfarmers Limited, for A$350 million. KTAS has around 258 outlets employing more than 1,200 staff in the country. The core business of KTAS comprises…
Category: Industry News
Yokohama terminates technology tie-up with Kumho Tires
Japan’s Yokohama Rubber says that it has terminated its four-year old technology tie-up with Kumho Tire Co., effective July, after China’s Qingdao Doublestar bought a 45% stake in Kumho this year, becoming its largest shareholder. Yokohama Rubber and Kumho Tire…
Lanxess to sell remaining 50% stake in Arlanxeo jv to Saudi Aramco
Specialty chemicals group Lanxess plans to sell its remaining 50% stake in Arlanxeo to its joint venture partner Saudi Aramco. The two companies, that founded Arlanxeo in 2016 as a 50:50 joint venture for synthetic rubber, have signed a respective…
Continental partners with AI research to speed up neural networks in cars
German technology company Continental says that it is expanding its international network for artificial intelligence (AI) in US’s Silicon Valley. “We are joining forces with the world’s leading AI researchers,” said Demetrio Aiello, Head of Continental’s Corporate Artificial Intelligence and…
Zenises purchases Europe’s largest independent retreader
Vacu-Lug Traction Tyres, Europe’s largest independent retreader, has been acquired by UK-based tyre firm Zenises Group that has not only purchased the entire company and equipment but has also acquired the prime 11 acre site in Grantham, Lincolnshire, UK, where…
Continental starts construction on its new headquarters in Hanover
Technology company Continental is beginning the construction of its new headquarters in Hanover. The first development phase for the building complex is to be completed by the end of 2020 and to provide space for 1,250 employees. According to the…
Yokohama develops hose to facilitate US auto shift to green refrigerant
Yokohama Rubber Co has developed the ACBR series of hoses for use in car air conditioners. The new hoses are compatible for use with HFO-1234yf, which is seeing more widespread application as the next-generation refrigerant for car air conditioners. The…
ANRPC revises outlook for rubber sector with higher growth
According to the Association of Natural Rubber Producing Countries (ANRPC), during first half of 2018 (H1 2018), the global demand of natural rubber (NR) grew 5%, year-on-year, to 6.96 million tonnes. Meanwhile, the global supply of NR rose 4.5%, year-on-year,…
Bridgestone wins tyre patent suit against China’s Fangxing Rubber
Tokyo-headquartered tyre maker Bridgestone Corporation says that it has received a favourable ruling from the Shanghai Intellectual Property Court in its lawsuit regarding the infringement of patent rights against major Chinese tyre manufacturer Fangxing Rubber Co., Ltd. (Fangxing). In September…
Sibur going for an IPO worth up to US$3 bn
Russian petrochemical company Sibur is preparing for an initial public offering (IPO) potentially worth between US$2 billion and US$3 billion, said a Reuters report, adding that it may happen by the end of the year. Sibur, the largest petrochemical producer…