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…
Category: Investments
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…
Plans outlined the arrival of tyre giant to Burton
A SLIGHT hitch with a railway firm was the only thing left holding up the development of a factory by an Italian tyre giant in the town in the 1920s. Burton Town Council revealed that arrangements were being finalised for…
Sailun involved in Kings Road Tyres acquisition
Tyre manufacturer Sailun has confirmed to Tyrepress an “indirect interest” in Kings Road Tyres. While the direct players in the investment group have yet to be fully confirmed, Sailun’s indirect interest gives some indication of potential tyre industry figures in…
How the Apollo, Cooper deal was botched
The $2.5 billion Apollo-Cooper marriage was called off before they could say ‘I do’. Both parties are aggrieved, and everyone, it seems, is to blame. Together, they would have become the 7th largest tyre company in the world. But, as…
Pirelli denies receiving any proposal from potential buyers
The head of Pirelli said on Wednesday he had received no proposal regarding a possible sale of the Italian tyremaker. “No proposal arrived to the undersigned and I did not make any proposal to the Pirelli board,” Pirelli’s Chairman and…