American Tire Distributors Holdings Inc. (ATD) has agreed to buy Hercules Tire & Rubber Co. for about $310 million, subject to certain customary pre-closing adjustments. American Tire Distributors will effect the purchase through ATD Merger Sub II L.L.C., an indirect…
Category: Investments
Bridgestone buys Indonesian cargo; trade subdued
Bridgestone Corp, the world’s largest tyre maker, purchased Indonesian rubber for nearby shipments at prices below 100 U.S. cents a pound, offering some respite to an otherwise depressed physical market, dealers said on Wednesday. SIR20 for March/April delivery was sold…
Polish company Synthos bolsters SBR business
Synthetic rubber producer Synthos S.A. is expanding its operation on two fronts. The Poland-based company has formed a key alliance with Harwick Standard Distribution Corp. to distribute Synthos’ SBR and butadiene products in the U.S. and Canada. It also is…
Semperflex pumps EUR10 mn to expand hose capacity
Austria-based Semperit Group is expanding its hose production in the Semperflex segment. More than EUR10 million will be invested to raise capacity at the Semperflex Optimit plant in Odry, Czech Republic. Semperflex Optimit is already Europe’s largest manufacturer of hydraulic…
Kossan eyes Indonesia for its new plant and targets Vietnam too
Malaysian rubber products manufacturer Kossan Rubber Industries Bhd plans to set up a new manufacturing plant in Jakarta, Indonesia, in the second half of this year. According to its General Manager of Group Corporate Affairs and Business Development, Edward Yip,…
Hartalega’s new plant to increase capacity by four times
The world’s largest producer of synthetic gloves Hartalega Holdings Bhd’s investment in a new manufacturing complex will quadruple the group’s total installed capacity to over 42 billion pieces of gloves/year. The Malaysian company that is the largest manufacturer of premium…
ContiTech strengthens presence in China
With the acquisition of the business of local manufacturer Taizhou Fuju Rubber Belt Manufacture, German firm ContiTech says it is continuing the expansion of its drive belt business in China. To date, the Chinese company, founded in 1993, has predominantly…
Marangoni to sell Anagni car and LT tyres plant
Italy-based Marangoni Group has appointed PricewaterhouseCoopers Corporate Finance (PwC) as its financial advisor to assist the company’s management in negotiations with potential buyers of the car and light truck tyres plant based in Anagni near Rome. Following the suspension of…
AmResearch maintains Buy on Kossan, raises fair value
AmResearch has maintained its Buy rating on Kossan Rubber Industries Bhd at RM4.09 with a higher fair value of RM5.05 (from RM3.80), and said although Kossan’s share price had performed exceedingly well in the last year, the stock had further…
Vajra Rubber Products, an investment of Core International, achieves rare API Q certification in India
HOUSTON -Vajra Rubber Products (P) Limited (“Vajra”), an investment of Houston-based Core International, LLC (“Core”), earned the rare ISO/TS 29001:2010 Total Quality Management Systems certification (“API Q”) at the end of December 2013. Core and its subsidiaries provide engineered rubber…