Dow Corning invests approximately US$1.8 billion in their Zhangjiagang site in China. Dow Corning executives announced the investment during the site’s 10th year anniversary. The Zhangjiagang site is China’s largest facility of its kind and among the world’s biggest and…
Category: Investments
JK Tyre acquires Kesoram Industries’ tyre unit in India
JK Tyre & Industries Limited (JK Tyre) and JK Asia Pacific Singapore Pte Limited signed an agreement with Kesoram Industries Limited (KIL) to acquire Cavendish Industries Limited (CIL). CIL has a unit located at Haridwar (Laksar), India which manufactures a…
Goodyear invests USD49mn on South Africa plant
Goodyear South Africa announced that it will invest USD670 million to increase high-value-added consumer tyre production at their manufacturing plant in Uitenhage, Eastern Cape. All production of medium radial truck tyres will be relocated to other Goodyear plants in other…
Lanxess makes rubber business an independent unit
Germany-based chemical company Lanxess is making its rubber production unit a separate, independent business unit in the Lanxess Group. The new unit will be made of Tyre & Specialty Rubbers and High Performance Elastomers business units. These two combined have…
Continental invests in new foundry
Continental is investing EUR6 million to build a new foundry in the Runding site of A-Z Formen- und Maschinenbau GmbH. A-Z Formen- und Maschinenbau GmbH designs and produces tyre moulds. The company was acquired by Continental last year. The foundry…
New US$275 million Ford plant in Russia launched
US car manufacturer Ford’s Russian arm Ford Sollers has unveiled a US$275 million plant in order to not lose out to weak currency and the high price of importing car parts. Ford aims to spend 60 percent of the cost…
Unique Fabricating Acquires Great Lakes Foam Technologies, Inc
Unique Fabricating, Inc. (“Unique” or the “Company”) which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced it has acquired…
Apollo Tyre sets eyes on Southeast Asia for next plant
Apollo Tyres is eyeing Indonesia, Vietnam or Thailand to build its mega tyre plant. “Our tyre plant in Asean will have big capacity and big economies of scale,” president Satish Sharma said last week. Apollo Tyres achieved US$2.08 billion (Bt74.6…
Michelin invests on Chinese ride-sharing startup
Michelin recently invested in a Chinese startup called Luli Informartion Technology. The startup is developing Lu You Tong Xing, an app offers ride-sharing services. Ride-sharing is Luli’s core business and areas of expertise. It matches people who want to ride-share…
US$150 million plant planned for Tuscaloosa
Samvardhana Motherson Group is planning to build a US$150 million plant in Tuscaloosa under the name SMP Automotive Systems Alabama Inc, Alabama Gov. Robert Bentley announced Thursday. Once completed, the 700,000-square-foot plant is expected to create 650 new jobs. Construction…