Apollo Tyres said it will be investing close toRs 1800 crores to set up a new manufacturing facility in Chittoor district of Andhra Pradesh. The resources earmarked are for developing the first phase of the unit, for which the company…
Category: Industry News
Continental, Bosch each buys 5 % stakes in digital map firm HERE
Germany’s Continental and Bosch, the world’s largest automotive suppliers, have each bought a 5 % stake in digital mapping firm HERE, as the industry pools resources with major carmakers to develop self-driving cars. Germany’s premium automakers BMW, Daimler and Volkswagen’s…
Price of rubber in Cambodia expected to rise
The price of rubber produced in the kingdom is expected to rise after a pledge recently by its neighbouring countries Thailand, Indonesia and Malaysia to withhold exports of 350,000 tonnes of natural rubber until March. According to a recently issued…
Halcyon Agri completes acquisition of RCMA Group’s Polymer Division
Halcyon Agri Corporation Limited, of the world’s largest natural rubber supply chain managers, has completed its acquisition of the assets and entities under the Polymer Division of RCMA Group Pte Ltd for US$31.8m. The acquisition has led to the establishment…
China’s plan to invest in rubber plantations in Thailand must be carefully considered– minister
Grisada Boonrach, minister to the Ministry of Agriculture and Cooperatives, recently said that China’s plan to invest in rubber plantations in Thailand must be carefully considered and that such projects must not impact local farmers. His comment was made in…
Malaysian ministry allocates RM37.2 million to Risda to implement Kelantan’s development programmes
The Rural and Regional Development Ministry has allocated RM37.2 million to the Rubber Industry Smallholders Development Authority (Risda) to implement the first phase of development programmes in Kelantan this year. Deputy Minister Datuk Ahmad Jazlan Yaakub said among the development…
Delek Auto mulls buying Veridis for US$305 mln from Oaktree
Israel’s Delek Automotive Systems is in advanced talks to buy control of environmental and infrastructure firm Veridis from investment manager Oaktree Capital Management for 1.05 billion shekels (US$305 million). Veridis operates in the collection, treatment and recycling of municipal waste…
Hainan Rubber inks MoU to start natural rubber investment in Africa
China’s Hainan Rubber Group signed a memorandum recently to set up an investment vehicle to develop projects in natural rubber and other related sectors in Africa. Such investment will have a special focus on the Community of Portuguese Language Countries in Africa, Hainan Rubber said.…
Vietnam Rubber Group targets raising US$273 million in Feb IPO
State-owned Vietnam Rubber Group (VRG) will offer 475.1 million shares, equivalent to nearly 25 % of its charter capital, for sale in its initial public offering (IPO) scheduled for February. With the starting price set at US$0.59 apiece, VRG expects…
Henniges Automotive launches new plant in China
Henniges Automotive, a leading global supplier of highly engineered sealing and anti-vibration systems for the automotive market, has opened a new, scalable 79,500 square-foot (7,391 square-meter) facility in Suzhou, China. The plant is located in the Taicang Port Economic and Technological…