Synthos SA, the rubber maker controlled by Polish billionaire Michal Solowow, surged to an 11-month high after proposing a record dividend. The manufacturer of synthetic rubber used for production of tyres will return to its owners a total of US$315…
Category: Industry News
Continental achieves higher sales, amidst a gloomy outlook
German firm Continental Corporation has set new records last year, against the back of a difficult market environment, achieving a profit of EUR1.9 billion and 7.3% higher sales to EUR32.7 billion and EUR25 billion in incoming orders. The firm says…
Import levy hike will only benefit China, Indian rubber groups warn
THE government’s proposed 70% import tax hike for natural rubber (NR) is nor welcomed by tyre and non-tyre manufactures in India. They allege that it will further harm the local manufacturing sector, conversely giving competitive edge to importers of finished goods, like China.
Bridgestone is folding up tyre plant in Italy
ZAVENTEM-headquartered Bridgestone Europe is closing down its passenger car tyre production facility in Bari, Italy within the first half of 2014. The Bari plant, fully owned by Bridgestone Italia S.p.A., is one of eight Europe-sited Bridgestone tyre plants. Bridgestone assured…
Tamil Nadu Tyre Dealers Association to join in Tyrexpo
THE Tamil Nadu Tyre Dealers Association (TNTDA) will be exhibiting at the upcoming Tyrexpo India to be held 9-11 July at the Chennai Trade Centre. This was announced by the show’s organiser, ECI International. In support of the tyre show,…
Eni faces millon euro penalties for cartel rap
AN additional EUR90.75 million (US$118.64 million) fine has been charged to Italian oil and gas firm Eni for its role in a 2006 synthetic rubber cartel case, according to EU antitrust regulators. Earlier, in 2006, the European Commission penalised Eni…
French Industry Minister gets flak from Titan
TITAN International Inc. and the French industry minister have been exchanging tirades, with the latter accusing the former of being “insulting” and “extremist”. Arnaud Montebourg, France’s Minister of Industry and Growth has accused Maurice Taylor, CEO of US tyre maker…
Singapore to stage Tyrexpo Asia 2013
SINGAPORE is set to take centre stage for the largest gathering of tyre and equipment suppliers ever assembled for the Tyrexpo Asia 2013 to be held 19-21 March at the Singapore Expo Centre. The show will become a host to…
Consumption for synthetic rubber outpaces natural rubber
THE All India Rubber Industries Association (AIRIA) has noted that synthetic rubber (SR) consumption is reaching a compounded annual growth rate (CAGR) of 15-20%, more than twice as much as the achieved 5-7% consumption growth of natural rubber. Niraj Thakker,…
Continental expands US tyre operations
The tyre company is investing US$129 million to expand its Mount Vernon tyre facility.