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…
Category: Investments
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…
Yokohama Rubber inks deal with Chelsea
Chelsea yesterday revealed The Yokohama Rubber Company Ltd will be their shirt sponsor from next season in a five-year deal which is reported to be the second largest in Premier League history. The west London club, who agreed a 10-year…
Vipal Rubber opens new Italian office
Brazilian retreading and rubber product manufacturer Vipal Rubber has set up a sales office in Italy. The new office in Bologna opened in January 2015 and caters to a market that last year grew 13 per cent year-on-year. The decision…
Investment firm to acquire Azelis
Europe-based specialty chemicals distributor Azelis Holding SA is being sold by its private equity owners 3i Group plc to another private investment outfit, Apax Partners LP. The financial terms of the deal have not been released. The deal is expected…
Lanxess subsidiary expands Tepex composites range
The Bond Laminates GmbH, a subsidiary of specialty chemicals company Lanxess, has expanded its Tepex range of continuous fibre-reinforced thermoplastic high-performance composites to include halogen-free flame-retardant versions with a polycarbonate matrix. “Our new Tepex FR grades demonstrate exceptionally high flame…
Haridwar tyre factory valued at Rs3,573 crore
Kesoram Industries Ltd has internally valued its tyre factory at Haridwar, which it is hiving off and is looking to sell, at Rs.3,573 crore, at least Rs.1,200 crore more than what the cement and tyre maker had previously said it…
Cooper Tire announces new US$200 mn share repurchase authorisation
Cooper Tire & Rubber Company announced on Feb 23 that its Board of Directors has authorised the repurchase of up to US$200 million of the company’s outstanding common stock through December 31, 2016. Shares will be repurchased from time to…