CEAT Kelani Holdings, the company that manufactures half of Sri Lanka’s tyre requirements, has announced a further commitment to the country in the form of an investment of Rs.600 million on a new tyre plant to produce highend radial tyres.…
Category: Investments
Commission endorses investment aid for Hankook for production of tyres in Rácalmás, Hungary
The European Commission has authorised €57.9 million of regional investment aid to the Hungarian company Hankook Tire Hungary Manufacturing and Trading Ltd (“Hankook Hungary”) for the construction of a tyre plant in Rácalmás, Fejér county, Hungary. The Commission found that…
Japan’s Yokohama Tyres bets big on India
Japan-based Yokohama Tyres, which opened a manufacturing plant last month, is undertaking feasibility studies on supplying tyres to Indian car companies, a top official of the company said. “Right now we are not in position to talk to these companies…
Vogue Tyre acquires E&G Classics
Vogue Tyre & Rubber Co. has acquired certain assets of E&G Classics, forming a new, separate company: E&G Corp. “Partnering with E&G is a great opportunity for Vogue Tyre, E&G and our collective customers,” said Greg Hathcock, president of Vogue.…
AmResearch maintains Buy on Kossan Rubber
AmResearch is maintaining its Buy rating on Kossan Rubber Industries with an unchanged fair value of RM5.05 a share. It said on Thursday it continues to peg itsvaluation to a price-to-earnings (PE) of 17.5 times over its FY14F earnings. “Kossan…
Titan still interested in Goodyear’s plant
Titan International Inc. remains open to making a bid on Goodyear’s troubled Amiens Nord plant in France, but some hurdles still remain in the way of a deal taking place in the near future. For the time being, Titan said…
Multi-million pound pledge puts new spin on tyre tests
Up 100 new jobs are set to be created after a Bicester firm won a multi-million pound contract for its inventive tyre-measuring technology. Sigmavision’s TreadReader, an automatic tyre inspection system that spots worn tyres, can be fixed into drive-over ramps…
Asia rubber-tyre grades at multi-year lows; SIR20 sold to Bridgestone
Tyre grade prices tumbled to multi-year lows this week because of weakness in benchmark Tokyo futures and persistent worries about slowing demand from main consumer China, dealers said on Wednesday. Although the dip in prices spurred buying from tyre makers,…
Ineos said to seek lower rate on $3.7 Billion of loans due 2018
Ineos Group Holdings SA, the world’s largest maker of phenol and nitrile chemicals, is seeking to lower the rate on about $3.7 billion of loans that expire in 2018, according to two people with knowledge of the transaction. Bank of…
Toyoda Gosei to buy German firm
Toyoda Gosei is broadening its business foundations in Europe with the establishment of a new company in Germany and acquisition of valuable assets from Meteor Gummiwerke K.H. Bädje GmbH & Co. KG (Meteor), an automotive rubber products manufacturer headquartered in…