Tesla Motors Inc. confirmed late Wednesday it has acquired a west Michigan auto supplier as it ramps up production of electric vehicles. Tesla spokeswoman Alexis Georgeson said the company this week acquired Cascade Township-based tool and die manufacturer Riviera Tool,…
Category: Industry News
Indonesia’s automotive industry shifts up a gear
In 2012 Indonesia produced more than one million motor vehicles for the first time. Its vehicle output rose 3.6 times during 2000–12. This was a large increase compared with global output growth of 1.4 times, while neighbouring Malaysia’s output only…
Lanxess begins production at new EPDM plant in China
German chemicals firm Lanxess has started production at its new ethylene propylene diene monomer (EPDM) plant in Changzhou, China. With the gradual ramp-up of the new plant, the company completes its global EPDM rubber asset base. Over the next few…
ContiTech’s innovative solutions for outdoor applications at Techtextil 2015
Germany based ContiTech, a leading innovator and technological pioneer for rubber and plastic products, is presenting its new dry suit material, as well as the wide variety of possible uses for technical textiles at the Techtextil trade fair that I…
New leader maintains Solvay Silica’s focus on innovation
Solvay S.A.’s Solvay Silica business may have a new president, but the philosophy on developing innovative products remains the same. The firm has appointed An Nuyttens, who has been with the firm for 24 years, to run its Silica Global…
Canadian Tire to acquire 12 former Target locations
Canadian Tire is set to take over 12 leases on former Target Canada stores, the company announced Wednesday. Canadian Tire said the deal for the locations will cost US$17.7 million, and is subject to approval by the court-appointed trustee monitoring…
First quarter 2015 earnings up for TRW Automotive Holdings Corp
Including special items, TRW reported net loss of US$366 million or US$3.13 per share in the first quarter of 2015, compared with net earnings of US$199 million or US$1.68 per share in the prior-year quarter. Revenues in the reported quarter…
Michelin buys Black Circles for £50m
One of Scotland’s most successful entrepreneurs has sold his tyre-fitting business for £50m to Michelin. Mike Welch, chief executive of Blackcircles.com, can expect to gain a third of that sale price, while staying with the company. He started selling tyres…
Goodyear Tire & Rubber Co Upgraded at Zacks (GT)
Zacks upgraded shares of Goodyear Tire & Rubber Co from a hold rating to a buy rating in a research note released on Monday morning. They currently have US$32.00 target price on the stock. Zacks’ analyst wrote, “Goodyear’s first-quarter 2015 adjusted earnings…
Import duty hike, dragon effect push up natural rubber price
Close on the heels of finance minister Arun Jaitley’s announcement of raising the customs duty on natural rubber (NR), price of NR in the domestic market has perked up a tad. In the last five days, the price of RSS-4…