Technology company Continental wants to commission a new, cutting-edge distribution center near to the Hanover-Langenhagen airport at the end of 2018. It will invest more than EUR10 million in equipment and machinery. The aim is for drive belts and surface…
Category: Investments
Volkswagen to invest US$27 billion in core brand until 2022
German automaker Volkswagen will invest EUR22.8 billion (US$26.9 billion) in its main car brand over the next five years. Most of that sum, around EUR14 billion, will be spent in Germany, Volkswagen said, adding that one of the key measures…
Motion Industries acquires US hose and belting company
Motion Industries has entered into a definitive agreement to acquire Apache Hose & Belting Company, with an effective close date of November 1. Iowa-headquartered Apache, specialises in value-added fabrication of belts, hoses and cut and moulded products used in a…
Evonik invests in fumed silica capacity expansion in Belgium
Germany-based leading global specialty chemicals company Evonik Industries is expanding its fumed silica capacities in Antwerp, Belgium with an investment amount in the upper double-digit million euro range. The company sees the move as a good fit for its strategy…
Top Glove venturing into condom business with RM75 mn investment
Malaysian rubber glove manufacturer Top Glove is expanding into the condom business with a RM75-million investment, according to the company’s founder Tan Sri Lim Wee Chai, adding that it’s a flourishing business to expand into since price-earnings valuations for the…
Freudenberg plans new site in India; EUR15 million investment
Diversified technology company that produces seals and nonwovens to household products and lubricants, Freudenberg, continues to expand its activities in Asia. The group will start with the construction of a new production facility in autumn 2017 in Chennai, India, producing…
Dow to proceed with coatings and silicones investments in Saudi Arabia
US-based chemicals firm Dow Chemical has signed an agreement to construct a manufacturing facility to produce a range of polymers for coatings and water-treatment applications, and a MOU for a feasibility study related to a proposed investment in the company’s…
Malaysia rubber glove exports hit RM4 bn in Q1 2017
Malaysia exported more than RM4 billion worth of rubber gloves in the first quarter of 2017, showing a 26% increase compared to the first quarter of 2016, which recorded RM3.2billion in sales. The country’s rubber products are currently exported to…
Sri Trang to invest 2bn Baht to expand annual rubber production capacity
Thailand-based Sri Trang Agro-Industry PCL, the world’s largest fully integrated natural rubber company, will be investing around 2 billion Baht to increase its annual rubber production capacity from last year’s 2.4 million tonnes to 2.9 million tonnes this year. “The…
Finnish tyre maker Nokian to boost growth with new US$360 mn US plant
Finnish tyre manufacturer Nokian Tyres will be building its third factory in the US in order to boost growth outside of European market as its shares slid more than 6% as quarterly profit missed expectations. The new greenfield factory will…