Investment firm Altaris Capital Partners has completed the acquisition of a 51% stake in US biomaterials company Solesis from Michelin. The deal retains 49% of Michelin’s stake in Solesis, which now operates as an independent company. Solesis operates through three…
Category: Investments
Shin-Etsu Chemical’s Silicone Division invests on carbon neutrality goals
Tokyo-headquartered Shin-Etsu Chemical’s Silicone Division will be ploughing an investment totalling JPY20 billion to curb greenhouse gas emissions (GHG). Shin-Etsu expounded that the Silicone Division’s main manufacturing plant, the Gunma Complex, will reduce the volume of GHG by 14% against…
Ube Industries to split off SR business; says low demand weakened profitability
Japanese chemical company Ube Industries will split off its synthetic rubber business in a company split (simplified incorporation-type split) by establishing a wholly-owned subsidiary, Ube Industries, Ltd, that will succeed in the synthetic rubber business. The company split will take…
Symbio advances hydrogen mobility with new dev’t projects, construction of largest hydrogen fuel-cell in France
Symbio, a joint venture between Michelin and Faurecia, is working on two development projects: one with bus maker Safra, the other with Stellantis. Michelin is determined to become a world leader in hydrogen fuel cell systems through Symbio, its joint…
Bridgestone invests JPY10 bn for new equipment at Shimonoseki Plant
Japanese tyre maker Bridgestone Corporation is investing JPY10.2 billion in installing cutting-edge equipment for certain facilities at the Shimonoseki plant, the company’s flagship production base for tyres for mining and construction vehicles (OR tyres), and which started operations in 1970.…
Carlyle Group to sell Liberty Tyre Recycling to ECP
Global investment firm Carlyle Group is selling Liberty Tire Recycling to ECP, investor across energy transition and decarbonisation infrastructure assets, including power generation, renewables and storage solutions, sustainability-linked infrastructure, and customer solutions facilitating the energy transition. Liberty has a network…
AirBoss subsidiary nabs US$576 mn Gov’t contract for high-demand PPE
US’s largest custom rubber compounder AirBoss of America’s wholly-owned subsidiary, AirBoss Defense Group (ADD), was awarded a contract worth up to US$576 million by the US Department for Health and Human Services (HHS) – Office of the Assistant Secretary for Preparedness…
SGX invests in rubber trading platform HeveaConnect
Singapore Exchange (SGX) has taken a minority stake in HaveaConnect (HC), a Singapore-founded digital marketplace for sustainable natural rubber (NR). SGX, which is investing US$1.5 million via its wholly-owned subsidiary Asian Gateway Investments, joins Halcyon Agri Corporation Limited (HAC), ITOCHU Corporation and DBS Bank as shareholders…
India’s PCBL commissions specialty black lines in Gujarat
West Bengal-headquartered Phillips Carbon Black Limited (PCBL) is meeting the growing demand for specialty black products with the commissioning of two specialty black lines in Palej, Gujarat, totalling 32,000 metric tonnes/annum. PCBL, a part of RP-Sanjiv Goenka Group, has a…
Goodyear to acquire Cooper in a US$2.5 bn deal
US-headquartered Goodyear Tire & Rubber Company (GT) is acquiring Cooper Tire, the 5th largest tyre manufacturer in North America, in a transaction estimated at US$2.5 billion. The agreement should strengthen Goodyear’s leading position in the U.S., while significantly expanding its…