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…
Category: Investments
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…
10 % profit for Hartalega
Malaysia’s largest glove-market has reported a 10 % increase in profit up to RM 62.7 million for its first quarter which ended in June. The increase was propelled by a weaker Ringgit and cheaper raw materials, Sales volume jumped 15.4%…
Qure Medical acquires Silicone Altimex
Qure Medical has bought Silicone Altimex. Qure Medical provides integrated elastomer solutions to medical device manufacturers. Silicone Altimex is one of Europe’s leading independent manufacturers of cleanroom-produced silicone tubing components and assemblies for the pharmaceutical industry. “This transaction is an…
GM investing US$245 million into Metro Detroit plant, adding 300 jobs
In the face of layoffs connected to lagging small car sales, General Motors announced Monday it is adding 300 jobs at its Orion Assembly Plant north of Detroit. It’s part of a US$245 million investment there that will go toward…
Michelin to invest US$22 million to increase capacity at Dothan, AL, plant
Michelin North America announced it is investing US$22 million in its Dothan facility in order to increase the production of its high-performance light truck and SUV passenger tires. Michelin said the investment will create about 40 new jobs at the…
TVS Srichakra-Michelin ink two wheeler tyre pact
French tyre maker Michelin has entered into a contract manufacturing agreement with TVS Srichakra to manufacture bias motorcycle and scooter tyres designed by Michelin for the Indian market. Under the deal, a new production line will be set up inside…