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…
Category: Investments
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 &…
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…