Following the unveiling of its Laufenn brand last November, Hankook Tire reports that the Laufenn brand has surpassed expectations for growth in its first year. Hankook Tire representatives stated recently that the Laufenn brand has produced strong results as it…
Category: Investments
Kal Tire expands in Chile
Kal Tire’s Mining Tire Group opened a new off-the-road (OTR) tyre retread and repair facility near the port city of Antofagasta, in the heart of Chile’s mining industry. “Kal Tire has been supporting the Chilean mining industry for many years,”…
Marangoni expands in Canary Islands
Marangoni Retreading Systems is expanding its market presence on the Canary Islands, through a partnership agreement stipulated with Boleca S.L., one of the archipelago’s retreaders. The Canary Islands account for an important share of the Spanish market, due to the…
Shin-Etsu plans to expand facilities
Shin-Etsu Chemical plans to invest a total of ¥20 billion in facilities in Japan, as it proactively focuses on expanding its silicone business. The objective of the new facility investments in Shin-Etsu’s silicones business in Japan is to strengthen and…
Apollo Tyres opens two Apollo Zones in Jordan
Apollo Tyres inaugurated two new Apollo Zones, the company’s branded retail outlets, in Amman, Jordan. One of the Apollo Zones was inaugurated by HE Anil Trigunayat, Ambassador of India to Jordan, the other one was inaugurated by Sujay Srivastava, Head,…
Bridgestone to buy Pep Boys
Bridgestone Retail Operations, LLC (BSRO) will acquire Pep Boys in an all-cash transaction for US$15 per share, or approximately US$835 million in aggregate equity value. The transaction is expected to close in the beginning of 2016. Pep Boys, headquartered in…
Rubber City targets up to RM10 bn in investments
The Rubber City being built in Padang Terap, Malaysia is scheduled to open next year and is eyeing investments of between RM5 to 10 billion. Kedah Menteri Besar Datuk Mukhriz Tun Mahathir said that acquiring land, constructing roads, and providing…
Bridgestone to acquire TireConnect Systems
Bridgestone Americas will acquire TireConnect Systems, a software company that supports tyre dealers and distributors in North America with a turn-key, online tyre sales tool featuring ecommerce capabilities. The acquisition, which is expected to close within the next 30 days,…
Iran building first ESBR plant
Iran, with the help of Versalis and Maire Tecnimont, is building a production plant for synthetic polymer ESBR, a product used in rubber manufacturing, according to a report by PressTV. The plant will be the first of its kind in…
Voith launches new rubber roll covers
The market launch of Voith’s UniFilm and UniSize, two rubber roll covers for film and size presses, is the start of a new product series. Voith developed the UniFilm rubber roll cover for use in film presses, while UniSize was…