In its latest overseas acquisition, China’s Zhongding Sealing Parts Co. Ltd. is buying 100 percent of the shares in German injection molder Wegu Holding GmbH for $107.4 million in cash. The payment was made to DMB 1 Invest GmbH &…
Category: Investments
Royal expands portfolio with acquisition of adhesive maker
Royal Holdings Inc.’s Kommerling UK Ltd. subsidiary has acquired Chemical Innovations Ltd. from the Vita Group to expand Royal’s capabilities and product portfolio. CIL is a developer and producer of high performance rubber to metal, rubber to plastic, rubber to…
MEXICO: Goodyear announces US$500m, 6m unit tyre factory
The Goodyear Tire & Rubber Company announced it would build a new tyre factory in San Luis Potosi, Mexico to supply customers in the Americas. Goodyear chairman and CEO Richard Kramer made the announcement at a ceremony in Mexico City with Mexican…
Tanzania to inject US$20m to revive General Tyre
The state is preparing to pump in over US$20 million to breathe life into the defunct General Tyre East Africa, whose production lines stalled in 2009 due to, among other factors, importation of cheap tyres. Industry and Trade Minister Dr…
Royal Holdings, Inc. acquires Chemical Innovations Limited
Based in Preston, UK, CIL is a leading developer and manufacturer of high performance rubber to metal, rubber to plastic, rubber to fabric and rubber to glass bonding adhesives for high performance automotive and industrial applications, including anti-vibration, hoses and…
Hitachi Automotive opens new facility in Chennai
The expansion is in response to growing importance of India in global automotive business. The group sees India as a strong base for its global strategy. The Japanese industrial giant has commissioned a new plant, its second factory in India,…
West Herr Automotive acquires assets of Autoplace Nissan
West Herr Automotive Group has acquired the assets of Autoplace Nissan and Autoplace Infiniti. The dealership, which employs about 70 at 8137 Main St. in Amherst, will become the 23 rd location for West Herr. Earlier this year, Automotive News ranked West Herr as the…
Royal Holdings acquires Chemical Innovations Limited
Royal Holdings, Inc announced that it has through its Kommerling UK Limited subsidiary, acquired the stock of Chemical Innovations Limited (CIL) from Vita (Group) Unlimited. Based in Preston, UK, CIL is a leading developer and manufacturer of high performance rubber…
Rubber supplier starts biomass power plant
A biomass co-generation power plant has been created at Vielle-Saint-Girons by a company called DRT. DRT is a supplier of rosin and turpentine-based products to the rubber industry. The biomass power plant is operated by Biomass Energy Solutions VSG, a…
Warren Buffett Adds To Automotive Bets With US$560 Million Axalta Investment
Berkshire Hathaway’s Warren Buffett is increasing his investment in the recovering U.S. automotive sector, this time by taking a US$560 million stake in Axalta Coating Systems , a 145-year old seller of coatings for cars, SUV’s and commercial vehicles. The investment comes as Axalta’s private…