Cooper Tire & Rubber Company recently announced that it has closed the sale of its 65% ownership in Cooper Chengshan (Shandong) Tire Company Ltd (CCT) to Chengshan Group Company Ltd for approximately US$262 million net of taxes and including dividends…
Category: Investments
Ashland completes elastomers business sale to Lion Copolymer
Kentucky, US-headquartered specialty chemicals firm Ashland, recently announced the completion of the sale of its elastomers business, based in Port Neches, Texas, to US synthetic rubber specialist, Lion Copolymer. Financial terms were not disclosed. The elastomers business, which primarily serves…
Accella reports sale of specialty assets to PolyOne
Accella Performance Materials, Inc. (Accella), a leading manufacturer of polyurethane systems and recycled rubber products, has announced the sale of specialty assets to PolyOne Corporation (POL). The divested assets are not related to Accella’s polyurethanes and recycled rubber business, and…
Continental inaugurates new plant in Wuhu
The international automotive supplier, tire producer and industry partner Continental announced today the opening of its second plant in Wuhu — Continental Automotive Interior (Wuhu) Co., Ltd., a new addition to its current manufacturing facility in Anhui province, China. Many…
Bridgestone inaugurates $1 billion-plus radial OTR tyre facility
Bridgestone Americas Inc. is celebrating its expanded capabilities in Graniteville with the opening of its $1 billion-plus radial OTR tyre plant and an ongoing capacity increase to its existing passenger tyre facility, both located in Aiken County, S.C. “I’m really…
Cooper to secure alternative sources of truck and bus tyres
Now that the sale of Cooper Tire & Rubber Co.’s share of Cooper Chengshan (Shandong) Tire Co. Ltd. is a given, Cooper is turning its attention to securing alternative sources of radial truck and bus tyres to complement the expected…
Vietnam Rubber Group seeks PM approval for finances
State-run Vietnamese rubber giant Vietnam Rubber Group (VRG) is seeking permission from the Prime Minister to acquire its own finance subsidiary to help cover the VND 1.77 trillion ($83.31 million) losses of the beleaguered company. The proposal has been criticized…
AkzoNobel unloads half of its share of Eka Synthomer Oy
AkzoNobel announced the €5 million divestment of its 50 percent share in non-consolidated joint venture Eka Synthomer Oy, to Synthomer. The divestment of these shares follows a strategic review of the businesses within AkzoNobel’s portfolio. Commenting on the transaction, Niek…
Marangoni Group gains German earthmover tyre retreader
Marangoni Group has acquired Recamax Reifen G.m.b.H., a Bergkamen, Germany-based earthmover tire retreading specialist, in a move to strengthen its presence in Germany. Financial terms were not disclosed. Marangoni and Recamix have been business partners for more than 25 years,…
Evonik opens US expansion plant for precipitated silica
German specialty chemicals company, Evonik, recently opened a new 20,000 metric tonne expansion at its precipitated silica site in Chester, Pennsylvania, US. Andreas Fischer, Head of Evonik’s Silica Business Line commented on the opening that Chester is an integral part…