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…
Category: Investments
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…
AirBoss, Flexible Products make strides since acquisition
Timing is everything. When AirBoss of America Corp. purchased Flexible Products Co. for US$51 million from the Reid family in late October 2013, it proved to be an extremely astute move. Both companies have made out well thus far. Flexible…
Camoplast Solideal buys New Zealand dealer
Camoplast Solideal Inc. has acquired Eastwood Tyres in Auckland, New Zealand. Camoplast Solideal says the acquisition strengthens its position in the Asia-Pacific market. The company will assume immediate responsibility of the Eastwood facility in Auckland, New Zealand including all staff,…
Apollo Tyres to invest Rs 1,500 cr at Chennai unit
Apollo Tyres is planning to invest around Rs 1,500 crore to expand its truck-bus radial (TBR) tyres capacity at its plant here to 9,000 units a day. Satish Sharma, president – APMENA (Asia-Pacific, Middle East and North Africa) region at…
Zhongding to acquire Wegu
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 &…