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…
Category: Investments
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…
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…