The Rubber Growers Cooperative Federation of Thailand has proposed raising money from rubber planters to establish their own car tyre factory in response to falling natural rubber prices. The group expects the investment to cost around 3 billion baht, federation…
Category: Investments
Halcyon Agri to acquire Singapore-based rubber distributor
Halcyon Agri Corporation, a Singapore-listed producer of natural rubber, said it has agreed to buy New Continent Enterprises. Halcyon Agri signed a memorandum of agreement to acquire the Singapore-based rubber distributor and dealer, it said. It will pay about $30…
Purchase of Pirelli steel tyre cord business approved
The European Commission has approved the proposed acquisition of the steel tyre cord business of the Italian company Pirelli by its Belgian-based rival NV Bekaert SA under the EU Merger Regulation. According to an official statement dated 31 July, the…
Evonik and GCL on jv for silicon compounds plants in China
German specialty chemicals Evonik Industries and Chinese polycrystalline silicon (PCS) manufacturer Jiangsu Zhongneng Polysilicon Technology Development, signed a letter of intent to form a joint venture for the production of fumed silica and ultra-pure silicon tetrachloride in China. Evonik, a…
Kumho to restart construction of US facility
South Korean tyre marker Kumho Tire said on Tuesday it plans to invest $413 million to build its first factory in the United States to cater to demand from Hyundai Motor Co and other global automakers. Kumho Tire said it…
Japan provides technology to produce high-quality rubber
Japan is providing state of the art technology to process raw rubber and boost local production in a bid to find a new supply for its tyre manufacturing industry. According to an MoU between the Myanmar Rubber Planters and Producers…
Foreign tyre makers plan to invest millions in Vietnam
Foreign tyre manufacturers have flocked to Vietnam with plans to turn the country into their production base as well as a new consumption market. According to tirebusiness.com, the Vietnamese market’s scale is rather small, with a value of $800 million.…
Cheng Shin to invest 1 billion dollars for expansion projects
Cheng Shin Rubber Ind. Co. Ltd./Maxxis International has approved nearly $1 billion in investments for the next few years to build plants in Indonesia and Taiwan and expand capacities at three plants in China. Cheng Shin Rubber disclosed the investment…
Czech Republic has defeated Poland to attract Nexen
The Czech Republic has beaten Poland to attract Nexen Tire Corp to invest 829 million euros ($1.1 billion) in its first plant in the European Union as the South Korean company expands outside Asia. “To win this new major investment,…
Singapore rubber firm plans to buy Lee Rubber Indonesia plants
Singapore-listed rubber firm Halcyon Agri Corp Ltd is in talks to buy rubber processing plants in Indonesia from Lee Rubber for S$400 million to S$500 million ($320 million -$400 million), three people familiar with the matter said on Wednesday. Earlier…