APOLLO Tyres has sold its South African tyre business, the Dunlop brand rights and Ladysmith passenger car tyre plant to Japan’s Sumitomo Rubber Industries for US$60 million. Apollo, meanwhile maintains its Durban plan for the newly-formed company, Apollo Durban. With…
Category: Investments
Construction of MOL, JSR synthetic rubber jv plant in Hungary begins
BUDAPEST-headquartered MOL, an oil and gas company, has formed a joint venture with the Japanese JSR Corporation to produce 60,000 tonnes of synthetic rubber (S-SBR) in Tiszaújváros from 2017. SSB-R is one of the most innovative raw materials for safe…
Global Bioenergies to set up second isobutene pilot plant in Germany
LEIPSIG-based Global Bioenergies is constructing its second industrial pilot on the site of the Leuna refinery in Germany. With grant of EUR5.7 million from the German Federal Ministry of Education and Research (BMBF), and including a three year study at…
JK Tyre boosting capacity at India, Mexico facilities
JK TYRE & Industries is investing some Rs1,430 crore to increase radial tyres capacity at its Chennai plant. It says that an additional eight lakh tyre per year capacity for truck and bus radial tyres and 20 lakh tyre per…
Acquisition of equity stake in Mexico’s Nhumo completed-Cabot
CABOT Corporation has completed its acquisition of the equity stake owned by Grupo Kuo SAB de CV. in its Mexican carbon black manufacturing joint venture, Nhumo, S.A. de CV. The Nhumo business will be integrated into the company’s Reinforcement Materials…
Bridgestone invests US$1.22 bn in new Vietnam plant
JAPANESE tyre maker Bridgestone Corp, which held a groundbreaking ceremony for its tyre plant in Hai Phong, Vietnam last year, has obtained the license to pump up its planned investment in a plant in the northern city of Hai Phong.…
Ansell to buy Midas for US$41 million
AUSTRALIAN latex glove and condom maker Ansell Ltd is set to acquire South Korean knitted cut-resistant industrial gloves producer, Midas C. Ltd for an estimated US$41 million. The deal is expected to close in the fourth quarter. A supplier of…
Supermax to buy 100-acre land in Selangor for new glove factory
MALAYSIAN glove maker Supermax Corporation Bhd, through its wholly-owned subsidiary, Maxwell Glove Manufacturing Bhd (Maxwell) acquisition of a 100-acre piece of land on which the company will build its new integrated glove manufacturing facility has been deemed by analysts a…
Minnesota Rubber closes ageing US plant
MINNESOTA Rubber and Plastics, a manufacturing plant in Watertown, Minneapolis, announced that it will be closing its plant in one year, resulting in 180 workers being laid off jobs after January 15, 2014. The company, which manufactures the Standard O-Ring,…
Malaysian condom manufacturer diversifies to food segment
TAKASO Resources Bhd , a Malaysian manufacturer of condom and baby products, diversifying into ready-to- eat food market in Thailand and Malaysia. Further, it is targeting the first quarter of 2015 as its pilot sales launch into the segment. According…