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…
Category: Investments
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…
New investments at Maragoni
As the deadline approaches for a possible extension of the labelling requirements already in force for new tyres to also include retreads, the retreaded truck tyre segment is rapidly evolving both regarding performance and the level of uniformity and efficiency…
Top Glove in RM1bil expansion mode
Top Glove Corp Bhd, which is currently in a net cash position of RM142.8mil, is on the lookout for merger and acquisition (M&A) opportunities to further expand its business scope. Chairman Tan Sri Lim Wee Chai said the group was…
Desser Tyre & Rubber has acquired European aircraft tyre
Desser Tyre & Rubber Co., LLC has acquired Europe’s leading aircraft tyre distributor, Watts Aviation. Located in Gloucestershire, England, Watts distributes a broad range of tyres and tubes for aviation as an authorized distributor for major tyre brands. Watts enhances…
Bekaert completes acquisition of Pirelli tyre cord plant in China
Bekaert and Pirelli have successfully closed the acquisition by Bekaert of the Pirelli steel cord plant in Yanzhou, Shandong Province, China. The deal closing in China follows the recent ownership transfers of other steel cord plants in Figline (Italy), Slatina…
Goodyear establishes tyre development center in China
The Goodyear Tire & Rubber Company (NASDAQ:GT) announced today that it has established its first development center in China. Located at the company’s state-of-the-art tire manufacturing facility here, the new center expands Goodyear’s capabilities in the Asia Pacific region and will enable it to…
Apollo Tyre to set up a joint venture in China
Apollo Tyres Ltd is to set up a joint venture in China, according to Beijing Auto chairman Xu Heyi. The proposed venture will have an annual production capacity of about 1 million tires, Xu said in Beijing, where he was…
Pirelli to be bought in a US$7.7 bln deal
China National Chemical Corporation (ChemChina) agreed on Sunday to buy tyre maker Pirelli in a 7.1 billion euro (US$7.7 billion) deal that will place one of the symbols of Italy’s manufacturing industry in Chinese hands. The deal with Pirelli’s shareholders is…