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…
Category: Investments
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…
Global tyre makers invests $8.6 billion to expand capabilities
The world’s major tyre makers committed at least $8.6 billion in the past year toward new and expanded capacities and research capabilities, representing nearly 46 million units in new annual capacity for consumer tyres and 4 million to 5 million…
Cooper and Chengshan joint venture worth approximately $440 million
Cooper Tire & Rubber Co. on Tuesday unveiled the valuation of its joint venture with Chengshan Group Company Ltd., marking a step forward as the companies seek to resolve its future ownership. The venture, known as Cooper Chengshan Tire Company…
Lehigh to raise funds for global expansion
US micronised rubber producer Lehigh Technologies Inc. is raising US$11 million in venture capital, to invest the capital in a global expansion. Lehigh, which converts discarded car tyres and other post-industrial rubber into micronised rubber powder, has raised about US$7…
Thailand rubber planters to build own car tyre factory
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…
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…