The declining price of rubber is worrying rubber farmers. Take Sam Phat, for example, who decided 10 years ago to plant rubber due to the robust demand from China. “It’s very easy,” she said. “You plant them, give them water…
Category: Industry News
Rubber output falls 4%
Rubber output fell 4 % in July. It fell 20 % in June. According to the data released by the Rubber Board, the production in July stood at 52,000 tonnes , 3.7% less than the output in the same month…
A unit of Birla Tyres to be bought by JK Tyre
JK Tyre will be purchasing the Uttarakhand tyre unit of BK Birla flagship Kesoram Industries in a deal which will amount to Rs 2,0002,200c crore. A deal would take the company’s share of the Indian market to about a fifth…
Car discounts increase in China as industry faces slowdown
China is seeing a slowdown in its car industry. As a result, consumers benefit from the increased number of discounts on cars. Bill Shen wants to upgrade his 8-year-old Citroen to something fancier, maybe an Audi or a BMW. But…
Lower supply costs encourages Continental to raise 2015 profitability forecast
Low supply costs have encouraged Continental AG to increase its profitability goal for this year. Its stock jolted the most in 9 ½ months. Earnings before interest and taxes, and adjusted for one-time gains or costs, will amount to 11…
Green Rubber Global buys machine in US$8.3mil deal
Green Rubber Global has entered into an agreement to purchase machinery from YMS Process Engineering Pte Ltd in order to strengthen its patented DeLink elastomer recycling facility. The subsidiary of Petra Group signed the agreement which amounted to US$8.3mil (RM325.86mil).…
Tesla shares fall 6 %
Car maker Tesla Motors Inc saw its share tumble down by nearly 6% on Wednesday. Due to this, they have announced that they will be raising cash as production increases. A recently negotiated credit line can be extended from US$500…
GM to overhaul plant for US$877 million
US$877 million will spent AS General Motors Co overhaul is plant in Flint, Michigan. In the past, GM and its domestic rivals would shut down production for weeks to retool for new models, stockpiling vehicles in advance and then discounting…
Natural rubber imports in India during July drops 15 %
The imports of natural rubber in India fell to 36,828 tonnes from a year earlier. India imports natural rubber from Vietnam, Malaysia, Thailand and Indonesia. In July, tyre makers trimmed imports expecting a further fall in rubber prices, said a…
Rs.300 crore earmarked for rubber procurement
Rs.300 crore has been set aside for the procurement of rubber for this season. The State Cabinet also decided to relax the norms for farmers wanting to join the scheme, but did not have the valid documents such as title…