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…
Category: Investments
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…
Ethos Private Equity invests in Autozone
Ethos Private Equity has invested in Autozone which is the largest and fast growing, privately-owned automotive parts aftermarket retailer and wholesaler in Southern Africa. AutoZone’s footprint spans 151 wholly-owned retail and wholesale branches and 37 member-owned franchise branches across South…
MRF eyes Kesoram’s tyre unit
India’s largest tyre manufacturer Madras Rubber Factory (MRF) is eyeing to buy the tyre unit of Kesoram Industries. The two are in talks for a purchase at a value far above than the market capitalisation of the entire diversified Birla…
Schalke 04 teams up with South Korean tyre manufacturers
Schalke 04 and South Korean tyre manufacturer Kumho Tyre have agreed to a partnership deal running until the end of the 2016/17 season, which includes the option for a further year. Founded in 1960, Kumho are now selling more than…