Tyre brand Dmack, famous for being the second tyre supplier in the 2011 FIA World Rally Championship has secured an investment of £3.5m from private equity managers Maven. The investment is expected to fund the next wave of the company’s…
Category: Investments
EnPro completes GRT rubber unit sale
US-based EnPro has completed the US$44 million sale of its GRT rubber manufacturing unit to GRT Rubber Technologies, a newly formed business funded by an investor group led by Main Street Capital Corp. EnPro will make Fabrico part of its…
Hexpol to buy over RheTech
Rubber compounds company Hexpol has agreed to buy over polymer compounder RheTech Thermoplastic Compounding for US$112 million on a cash and debt free basis. “The acquisition expands Hexpol Compounding NAFTA´s capabilities and capacities within Polymer Compounding and is a very…
Hankook partners with private firm to jointly bid for Halla Visteon
South Korean tyre maker Hankook Tire is considering partnering with private equity firm Hahn & Company to jointly bid for Halla Visteon Climate Control Corp, an official at Hankook Tire told Reuters, without elaborating. Korea Economic Daily reported that Hahn…
Continental AG gains antitrust approval on Veyance acquisition
Reuters reports, “German auto supplier Continental AG won both US and Canadian antitrust approval to buy Veyance Technologies, a US-based maker of industrial hoses and belting, on condition that it sells certain assets, regulators said on Thursday. The US Department…
Hexpol on a buying spree: buys Portage Precision and Vigar; completes Kardoes buy
Compounder Hexpol has bought US rubber compounder Portage Precision for US$13.2 million. The consolidation happened in December. “The acquisition is a very good complement to Hexpol’s compounding in the US and broadens and strengthens our presence in rubber compounding. Portage…
Reliance and Sibur to set up rubber facility in Gujarat
The Financial Express reports, “Reliance Industries has joined hands with Russia’s Sibur to set up a butyl rubber manufacturing plant in Gujarat. The agreement would be highlighted during Russian President Vladimir Putin’s visit to India, starting Wednesday, said Russian Ambassador…
American tyre manufacturer plans to invest in South Carolina
According to SCNow.com, the city of Johnsonville, S.C., is working hard to land a supposed tyre manufacturer named American International Tires Inc. The company is promising close to 100 jobs. The news was announced when Javed Bodian, president and CEO…
India’s Uno Minda set up jv with Toyoda Gosei to manufacture rubber hoses
Auto component maker Uno Minda has inked a joint venture agreement with Japan’s Toyoda Gosei Co to manufacture and sell rubber hoses in the country. As per the agreement, the partners would set up a joint venture (JV) firm with…
IVL to acquire Performance Fibers; adds on to auto portfolio
Thailand-headquartered PET integrated manufacturer Indorama Ventures (IVL) has reached a definitive agreement to acquire one of the world’s premium automotive fibre businesses, Performance Fibers Asia, including all its Asian manufacturing operations and the right to continue using the name Performance…