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…
Category: Investments
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…
Apollo to gain Cooper valued at approximately $2.5 billion
Apollo Tyres Ltd and Cooper Tire & Rubber Company today announced the execution of a definitive merger agreement under which a wholly-owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately $2.5 billion. Under the terms…
Cooper and INSA establishes joint venture to produce silica masterbatch
Building on the recent announcement that Cooper Tire & Rubber Company and the Industrias Negromex S.A. de C.V. (INSA) subsidiary of Grupo KUO have jointly earned a U.S. patent (8,357,733) for silica masterbatch, the two companies today reported achieving a…