Cooper Tire & Rubber Company reported third quarter 2017 net income of US$62 million, or diluted earnings per share of US$1.18, compared with US$49 million, or US$0.90 per share, last year. The quarter included a US$39 million benefit from lower…
Category: Industry News
Budget 2018 augurs well for glove industry
The 2018 Budget which focused on four key areas, namely automation and Industry 4.0, high value-added products on Market Development Grant, incentives for rubber industry smallholders and special economic zones, augurs well for the continued growth of the glove industry.…
Malaysian PM: Budget 2018 a windfall for Felda settlers
More than 112,000 Federal Land Development Authority (Felda) settlers received a windfall through six main incentives announced by Prime Minister Datuk Seri Najib Tun Razak when tabling Budget 2018 at the Dewan Rakyat. Najib, who is also Finance Minister, said…
MARGMA: Fund to upgrade facilities helps manufacturers modernise
The RM245 million grant under the Domestic Investment Strategic Fund to upgrade facilities for Smart Manufacturing is in line with the industry’s aspirations to fully automate and modernise manufacturing plants across the country. The Malaysian Rubber Glove Manufacturers Association (MARGMA)…
Adventa denies being Top Glove’s acquisition target
Adventa Bhd said today it no longer manufactures surgical gloves, indirectly dismissing a financial daily’s report that a leading industry player was buying the former’s surgical glove business. In a filing to Bursa Malaysia today, Adventa said it had sold…
Luxchem prospects intact despite disappointing earnings
AmInvestment Research has trimmed Luxchem Corp Bhd’ s FY17 earnings by 18% following disappointing 9MFY17 results. However, prospects for the company remain intact, it said. Luxchem’s net profit of RM9mil was up 4% q-o-q but lower by 10% y-o-y. For 9mFY17,…
Risda Innovations Should Benefit Smallholders – Ismail Sabri
The workforce of the Rubber Industry Smallholders Development Authority (RISDA) which produces innovative and creative products must ensure that their products benefit smallholders. Minister of Rural and Regional Development Datuk Seri Ismail Sabri Yaakob said the products should also be…
Avery Dennison launches new vulcanised heat-supporting tyre labels
Avery Dennison has created a label which is engineered to bond with the tyre during the vulcanisation process and maintain lifelong adhesion and readability. The drive for efficiency and quality in tyre manufacture has sparked demand for a new kind…
Michelin MotoGP deal extended until 2023
French tyre manufacturer Michelin will continue to be the exclusive supplier of tyres to the MotoGP world championship until the end of 2023 after agreeing a new five-year deal with commercial rights holders Dorna Sports. Michelin took over from Bridgestone…
Shares of Top Glove, Supermax and Adventa dropped sharply
Shares of Top Glove, Supermax and Adventa fell sharply. This came after Top Glove’s head honcho made it clear that the company was not buying Adventa or Supermax. Top Glove, in a filing with Bursa Malaysia, clarified that it was in…