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,…
Category: Investments
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…
Trelleborg purchasing assets of Italian tyre wholesaler
SWEDISH Engineering firm Trelleborg Wheel Systems S.p.A. may be buying the industrial tyre business of Italy-base Pircher Alfred S.A.S., which has distribution and interfit service concept for industrial tyres (such as forklift truck tyres), as a move to extend its…
Petronas/Versalis jv for synthetic rubber production at RAPID
PETRONAS, Malaysia’s state-owned oil and gas company, and Italy-based Versalis, Eni’s chemical subsidiary and a global leader in the elastomers industry, are moving ahead with the joint venture company announced last year that will produce elastomer products at Petronas’ proposed…
Apollo Tyres to pursue joint agreement with Cooper
Apollo Tyres still wanted to pursue its joint agreement with Cooper Tyres despite their rift. Cooper previously filed a complaint against the Indian firm for delaying the agreement completion, but the latter denied the charges but instead asked for price…
Versalis, Lotte form jv for elastomers
VERSALIS, Eni’s chemical subsidiary, and Lotte Chemical, a major petrochemical company in South Korea, have established a 50:50 joint venture known as Lotte Versalis Elastomers. Lotte Chemical CEO, Sooyoung Huh, and Versalis CEO, Daniele Ferrari, made the announcement at the…
Michelin and Chandra Asri form JV
French tyre manufacturer Michelin and Indonesia’s Chandra Asri Petrochemical have agreed to create a joint venture with an investment of US$435 million in a new synthetic rubber plant in Indonesia to supply the local tyre industry and increase export potential.…
ENI subsidiary to quit Hythe plant on dropping demand for replacement tyre
A synthetic rubber company, Polimeri Europa is to close its plant at Hythe with the loss of up to 300 jobs at the start of 2014. The closure is due to weakening demand for replacement car tyres, as well as…
Bridgestone tops radial tyre production output at China plant
Bridgestone Corporation announced that it will increase its production capacity at a radial tyre plant in Wuxi, Jiangsu Province, China by approximately 5,300 tyres a day. One of its subsidiary, Bridgestone (Wuxi) will invest about ¥11.5 billion for its capacity…
Continental debuts tyre plant in Russia
Continental Corporation, announced the official start of the serial production at the new tyre plant in Kaluga. The construction of the plant started in November 2011 and was successfully completed within less than two years time and with that according…