Japanese tyre maker Bridgestone’s US-based farm tyre manufacturing plant will lay off 69 workers beginning this week due to dropping demands for farm workers. The laid off workers will receive 80 % of their salary as stipulated in the company’s…
Category: Industry News
Local carmakers to dominate Malaysian car market, institute says
The Malaysian Automotive Institute (MAI) predicts that Malaysian carmakers Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) will dominate the local car market by 52 %. “Based on the new models and the variant planning of the national…
Bain Capital Partners attempts control of Ti Automotive
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…
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…