RUSSIAN firms, Rosneft and Rostec (Russian Technologies), and Italian firm Pirelli signed a Memorandum of Understanding (MOU) for a joint R&D on materials to be used in the manufacturing of tyres. The signatory companies were represented by Igor Sechin, President…
Category: Investments
World’s 9th largest tyre maker to build new plant in Indonesia
TAIWAN’s Cheng Shin Rubber Industry Co, the world’s ninth largest tyre firm is setting up a factory on a 27-hectare site in Indonesia, and in so doing is reported to be increasing its investment from US$80.1 million to US$320 million,…
Sumitomo Rubber assumes Apollo SA tyre business
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…
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…