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…
Category: Investments
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…
Shares of Goodyear Tire & Rubber (GT) fall
Shares of Goodyear Tire & Rubber (GT) fell 5.69% to US$26.44 in morning trading Tuesday. It came amidst the company’s announcement that it now expects full-year 2014 segment operating income (SOI) growth to be slightly below its original 10% to 15% range. The…
Conti’s aim to buy Veyance slows down; aims for 5% growth this year
Germany’s Continental aspires to purchase Veyance Technologies Inc. from the Carlyle Group, but has been slow in doing so. This is because it faced a huge roadblock in December when it received a conditional approval from the US Department of…
Sumitomo buys Swiss rubber parts maker for the pharma sector
Japan’s Sumitomo Rubber Industries (SRI) is expanding its business of rubber parts for pharmaceutical packaging by acquiring all shares of Lonstroff Holding AG (a Swiss company), which are currently held by BV Holding AG (a private equity fund). The consideration…
New ringtread partner in Marangoni European network based in Norway
Italy’s Marangoni Retreading Systems and Gummiservice Produksjon of Rade, Norway, have signed a cooperation agreement. With some 40,000 retreaded tyres per year, Gummiservice Produksjon is a highly significant market player in Norway and Sweden and has been established for many…