Continental has concluded its acquisition of the U.S. rubber company Veyance Technologies Inc, of Fairlawn, Ohio, on January 30. On January 29, the Brazilian antitrust authority CADE (Council for Economic Defence) cleared the transaction with certain conditions, thus providing the…
Category: Investments
Mahindra & Mahindra closer to acquire stake in Saab Automotive
India’s largest maker of utility vehicles and tractors Mahindra & Mahindra, is close to successfully acquiring a stake in the company that owns Swedish auto maker Saab Automoive, the Dow Jones Newswires reported, citing court documents. National Electric Vehicle Sweden is owned by National Modern…
Soros may invest in auto dealer groups
Billionaire financier George Soros wants to invest in or buy a large automotive dealership group, potentially following in the footsteps of Warren Buffett, Automotive News reported. Two representatives of Soros Fund management, which Soros chairs, attended the National Automobile Dealers…
Novelis invests US$48 MIL in automotive scrap recycling facility
US aluminium sheet maker Novelis said Monday it had invested $48 million investment in its automotive scrap aluminium recycling facility in Oswego, New York. The company said the Oswego facility would meet increased demand for aluminium automotive sheet in North…
Penske Automotive purchases Land Rover Dealership
Penske Automotive Group, Inc.an international transportation services company, has acquired a Land Rover dealership in Darien, Connecticut. The company estimates the dealership will generate approximately $50 million of revenue annually. “We are pleased to add the Land Rover brand to our existing automotive…
POSCO completes construction of new high-end automobile factory
The construction of a high-end cold rolled steel sheet factory for automobiles with a production capacity of 1.8 million tons in Maharashtra, India has just been completed by POSCO. With a US$709 million (767.35 billion won) investment, the construction of…
Rogers Corp buys silicone subsidiary from Handy & Harman
The sale of its subsidiary Arlon LLC by Handy & Harman Ltd. to Rogers Corp has been finalised. Handy & Harman previously announced the agreement to sell Arlon, which manufactures silicone products in Bear, Del., on Dec. 19. The total…
Del-Nat assets acquired by TBC
TBC Corp has acquired the assets of Del-Nat Tyre Corp, including the ownership of all Del-Nat brands and trademarks. The acquisition of Del-Nat’s inventory, brands and trademarks will add both domestic and international customers to TBC’s portfolio, enhancing its distinction…
New Kordsa Global plant opens in Indonesia
The company invested US$100 million in the project and the plant, located in Bogor-Citeureup (Java) includes an 18 kiloton tyre cord fabric facility and a 14 kiloton third and fourth-generation polyester HMLS yarn facility. Over 200 people will be employed…
NDR to float 65 million shares for debt repayment
Tyre manufacturer ND Rubber Plc (NDR) will float 65 million shares to the public through the Market for Alternative Investment, priced at 2.7 baht apiece for debt repayment. Managing director Chaiyasit Samrittivanicha said about 100 million baht available from the…