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…
Category: Investments
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…
Cooper closes sale of CCT stake to Chengshan
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…
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…