Dismal rubber prices have pushed Thailand’s Agriculture and Cooperatives Minister, Chalermchai Sri-on, to formulate solutions to the tackle problem. The Agriculture Ministry is to work with the Rubber Authority of Thailand (RAT) to survey the market’s rubber demand and set…
Category: Investments
Avon Rubber to acquire 3M’s ballistic-protection business for US$126 mn
UK’s Avon Rubber is to acquire 3M’s ballistic-protection business and the rights to the Ceradyne brand for a sum of US$126 million The deal included an initial cash amount of US$126 million and a further contingent cash consideration of up…
Toyo Tire to build Serbian factory by 2020; production geared for 2022
Toyo Tire will begin the construction of a “smart” production plant in Indjija, Serbia, by May 2020 after an initial investment of US$434.7 million. The Japanese company expects to initiate manufacturing operations in two years of the plant’s completion, with…
Bridgestone India to invest US$51m in Indore plant capacity
Bridgestone India is set to invest over US$51 million (Rs350 crore) to expand its manufacturing plant in Indore, west-central India. The tyre major expects to boost capacity at the plant to over 20,000 tyres daily by 2020, and further enables…
Continental to build EUR26 mn motorcycle tyre factory in Thailand
German tyre maker Continental has laid the cornerstone for a new motorcycle tyre factory in Rayong, Thailand. In the course of the next few years, the company plans to invest approximately EUR26 million. When the plant comes on stream in…
Bridgestone to invest US$41m in European smart factory project
Bridgestone is to invest US$41 million on the digitisation of eight European tyre manufacturing plants, to create factories of the future. The investment is to be spread out over the next four years and will enable Bridgestone to meet customer…
Michelin owns 99.6% of Indonesia’s Multistrada shares
French Group Michelin has recently acquired additional share capital of Indonesian tyre manufacturer Multistrada Arah Sarana (Multistrada) after a public offer for the company’s outstanding shares – Michelin’s interest in Multistrada now stands at 99.64%. In March 2019, Michelin initially…
Marangoni spins off tyre making equipment business
Italy’s Marangoni has spun off its Meccanica tyre manufacturing equipment business. Marangoni Meccanica is now separate from the main business of the Marangoni Group, it said recently in a statement. As a standalone entity, Meccanica is now owned by a…
SBR market to grow by US$8.2bn by 2026
Styrene butadiene rubber (SBR) derivatives are of great use in automotive and industrial applications. It is estimated that the SBR market, from a moderate CAGR growth of 4.3%,will value at over US$8.2 billion by 2026. Robust growth in the global…
Continental invests EUR100m into Portuguese production
Premium tyre manufacturer Continental is set to expand its production facilities in Lousado, Portugal, with investments amounting to EUR100 million which will employ cutting-edge technology and create about 100 new jobs. Christian Kötz, of the Executive Board at Continental, said…