American private equity firm Bain Capital Partners recently attempted to seize control of British manufacturer TI Automotive. It was their third time doing so. The firm is working on a £1.2bn takeover of the company which produces part of cars…
Category: Industry News
Standard Profil opens its 10th global plant in Mexico
Automotive sealing manufacturing company Standard Profil recently unveiled its 10th global plant in Mexico. The plant runs on cutting-edge technology and was built in 9 months on a total budget of US$36 million. “We always aim to be closer to…
Toyo R888R debuts at Essen Motorshow
The new Proxes R888R track tyre by Toyo Tire Europe GmbH recently made its debut at the Essen Motorshow in Germany. The line succeeds the Proxes R888 which the company says have been used to win various championships, including 2014…
BMW to share costs of overstocked cars
Automotive company BMW will pay 5.1 billion yuan ($US820 million) to disgruntled auto dealers in in China who complained that the cost of overstocked showrooms must be shared. The luxury car maker is facing cutthroat competition: for example, it’s range…
Rubber imports jump in India
India has seen a 19 % rise in its imports of natural rubber to 33,156 tonnes from a year earlier, India’s Rubber Board said, due to a dip in local output and lower global rubber prices. Also, there is a…
Driven Brands to be sold for US$600 mn?
US-based Driven Brands, the owner of franchised US automotive repair chains including Maaco and Meineke Car Care, is exploring a sale that could value it at more than US$600 million, according to a Reuters report. Driven Brands is owned by…
Case against Apollo Tyres dismissed
The US court has struck out the case against Indian Apollo Tyres brought by US firm Cooper Tire and Rubber. Apollo was in a deal to buy Cooper but the latter later pulled out. “Pursuant to the ruling by Vice…
Tyre sales to grow, group predicts
The Rubber Manufacturer Association (RMA) has predicted that the shipment of tyres will increase to more than 310 million this year. Other forecast are as follows: Original equipment passenger tyres: the demand for passenger OE tyres this year are expected…
Kumho wins quality award
Korean-based tyre manufacturer Kumho has won the Quality Award from French automotive manufacturing group Renault. It is the first Korean-based manufacturer to win the award. The award event was held at Renault Group’s world headquarters in Boulogne-Billancourt, France. “It is…
Marangoni scores 4 mn tyre treads
Tyre manufacturer Marangoni Tread North America recently achieved a milestone when it produced its 4 millionth tread tyres at its Madison, Tenn., plant. “We are proud and thankful that we have been able to achieve this important milestone. Our unit…