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…
Category: Investments
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…
China Automobile Parts Holdings Ltd (CAP) to venture into rubber
China Automobile Parts Holdings Ltd (CAP) plans to venture into the rubber business in China via a partnership with a Malaysian-based clean technology company. CAP yesterday signed a memorandum of understanding (MoU) with SRI Elastomers Sdn Bhd to establish a…
Chinese tyre maker under “financial constraints”
Shandong Deruibao Tire Co. Ltd., producer of the Deruibao and Faralong brands, has filed for government-coordinated restructuring due to “financial constraints,” according to the local municipality government. “The company is not bankrupt, and it’s only asset restructuring,” the Guangrao government’s…
Thailand & China enter into rubber agreement
THAILAND and China are expected to sign a contract in May for China to purchase 2 million tonnes of Thai rice and 200,000 tonnes of rubber, following further discussions between the countries. After a meeting between Thai Commerce Minister General…
Mechanical Rubber acquires Prestige Rubber Manufacturing Corp.
Mechanical Rubber in Warwick recently announced it acquired Prestige Rubber Manufacturing Corp. of Fairfield, N.J., in January. Prestige is a manufacturer of rubber elastomer expansion joints and wrapped rubber tubing. Products are sold to manufacturers, users and distributors throughout North…