In line with an investment agreement concluded with the provincial and local authorities at the end of April, Continental is to substantially increase tyre production at its Hefei plant in China. The agreement envisions gradual ramp-up of the current production…
Category: Investments
ContiTech inks partnership, unveils rebranding effort
ContiTech Conveyor Belt Group, Siemens A.G. Process Industries and Drives Division, and Thyssen-Krupp Industrial Solutions jointly will develop and market a steep-angle tubular belt conveying system, according to ContiTech A.G. ContiTech also said it will rebrand belts for the mining…
Icahn Enterprises L.P. Completes Acquisition of U.S. Automotive Parts Distribution Business of Uni-Select
Icahn Enterprises L.P. today announced that it has completed its previously announced acquisition of substantially all of the assets of Uni-Select USA, Inc. and Beck/Arnley Worldparts, Inc., comprising the U.S. automotive parts distribution business of Uni-Select Inc. (TSX:UNS). The transaction…
MRF to expand Tamil Nadu plants at Rs 45 billion
MRF plans to invest about Rs 45 billion to expand the production capacity at its two factories in Tamil Nadu. A Memorandum of Understanding has been signed between MRF and the Tamil Nadu Government for the same. The proposed investments…
Evonik’s plans for new production plant
Evonik Industries has started basic engineering for a new production plant for precipitated silica with focus on the rubber and especially the growing tire industry. The world-scale facility is planned to be built in the South East of the United…
Automotive Supplier Investing US$13 Million to Build Pulaski Plant
An automotive supplier is investing more than US$13 million to build a new manufacturing facility in Giles County that is expected to create 147 jobs. Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd announced this week that Proper Polymers…
Elgi Rubber buys US tyre recycling equipment firm
Elgi Rubber Company Limited, a raw material, equipment, tools and accessories manufacturer headquartered in India with subsidiaries in Australia, Brazil, Kenya, the Netherlands, Sri Lanka, and the US, has acquired controlling stake in the US-based Cincinnati Retread Systems, which produces…
Michelin and Barito Pacific on JV for green rubber, reforestation
French tyre maker Michelin, and Indonesian diversified resource-based enterprise Barito Pacific Group (BPG), formed a joint venture (jv) for producing natural, eco-friendly rubber. According to the terms of the agreement, this new jv will be owned 53% by BPG and…
Kumho Tire and Yokohama Rubber partnership unveils more plans
South Korean tyre company, Kumho Tire and Japanese tyre maker, Yokohama Rubber Co Ltd began discussing the supply of original equipment manufacturer (OEM) parts. Both companies also concluded a strategic coalition for research and technology last May, and are co-developing…
Passaic acquires rubber roller manufacturer
New Jersey-based Passaic Rubber Co has acquired Pershing Roller Corp, a manufacturer of small- to medium-sized rubber covered rollers from owner Bill Powers. Amount of the transaction was not disclosed. Passaic purchased all Pershing assets, including equipment and presses, all…