Category: Industry News

South Korean tyre makers report mixed performances

Amidst higher costs and lower demand, South Korea’s top three tyre manufacturers: Hankook Tire, Kumho Tire and Nexen Tire, have reported mixed financial performances in the third quarter. While Hankook and Kumho managed to post strong profits, Nexen struggled amid…

Michelin to downsize; shuttering plants in France

Against the back of a challenging automotive sector in Europe, French tyre maker Michelin (plans to close two of its French factories, affecting 1,254 workers. The 135-year company cited high costs, worsening competitiveness of Europe, notably due to inflation and…

Birla Carbon to build US$1 bn graphite anode plant in US

India’s Birla Carbon, a unit of Indian multinational company Aditya Birla Group, is investing US$1 billion to construct a plant in South Carolina, US, to produce graphite anode materials, according to a statement by state Governor Henry McMaster. “Birla Carbon’s…

Lotte to liquidate PBR jv in Malaysia

South Korean petrochemical firm Lotte Chemical Corp. says it plans to liquidate its rubber joint venture in Malaysia to scale back its basic chemicals business while selling stakes in its overseas units to raise nearly US$1 billion to cut debt. Lotte Chemical has…

Calamities may dampen NR supply – ANRPC report

Global natural rubber (NR) production rose by 3.2% in the first nine months of the year, reaching 9.9 million tonnes, while global demand saw a more modest increase of 1.4%, reaching 11.3 million tonnes over the same period. However, the…

Pirelli unveils first FSC-certified bike tyres

Italian tyremaker Pirelli has introduced the P Zero Race TLR RS, the cycling industry’s first tyre featuring FSC-certified natural rubber, sourced responsibly to preserve biodiversity and support local communities. Manufactured at Pirelli’s updated Milan-Bollate plant, this tubeless-ready tyre represents a…