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…
Category: Investments
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…
Kedah to purchase 647.497ha of land for Rubber City project
Kedah is looking into acquiring a 647.497ha of land in Ladang Bukit Ketapang, Kuala Nerang, for the Rubber City project. “The project is a national project and therefore the Federal government is giving its full support for the project,” State…
Autoliv completes purchase of MACOM Automotive Solutions Business
Automotive safety systems company Autoliv, Inc. has completed its purchase of the automotive business of M/A-COM Technology Solutions Holdings, Inc. The acquisition is roughly US$100 million in cash, plus up to an additional $30 million in cash based on achievement…
Toyo Tire reports ¥30 billion for the replacement of low-quality products
Toyo Tire & Rubber Co. lost ¥30.4 billion between January and June this year due to the replacement of low-grade quake-absorbing pads in buildings. The net loss amounted to ¥4.16 billion for the first half of the year.. The company…
Uber rival attracts investment from Beijing Automotive
There’s a new rival I China to the popular car pick-up business Uber, and it’s called Didi Kuaidi. Recently, the Didi Kuaidi has attracted investment from attracted Beijing Automotive Group Co., sources close to the matter say. Beijing Automotive, controlled…