METSO has completed the divestment of certain parts of its industrial rubber conveyor belt manufacturing and related sales and services operations, which comprise 27 locations with around 330 employees previously belonging to the firm’s Mining and Construction segment. The Finland-sited…
Category: Investments
New plant coming up for Pakistan’s tyre company
PAKISTAN-based General Tyre (Gentipak), producer of tyres for passenger car, light truck, truck/bus, tractor, rickshaw, and motorcycle, is setting up a manufacturing plant in the northern area of the South Asian country Lt Gen (Retd) Ali Kuli Khan Khattak, Chairman…
Weir to set up rubber production facility in Malaysia
SCOTLAND-headquartered Weir Group is investing more than £70 million (RM354 million) in Malaysia. The engineering firm’s investment, which will cover setting up of foundry to produce high-quality castings; machine shop and rubber processing plant to produce Linatex, a 95% natural…
Carlisle to sell tyre business to US equity firm
Carlisle Companies Incorporated is selling its Transportation Products (CTP) to American Industrial Partners of New York for US$375 million. According to Carlisle, the transaction is subject to customary closing conditions, including regulatory clearances, and is expected to close in the…
Unimatec Chemicals expands in US
Unimatec Chemicals, which is recognised for its Noxtite brand of FKM, ACM and HT-ACM polymers (high performance rubber polymers) and Cheminox curatives, is expanding in North America with the formation of Unimatec Chemicals America Inc. It anticipates enhanced customer service…
Tyre maker doubles capacity in Andra Pradesh plant
INDIA’s top tyre maker MRF, an enterprise that started as a toy balloon maker in 1946 in South India, is investing Rs 1,000 crore to double its capacity at a facility located in Andhra Pradesh, A state under bifurcation, near…
Chemtura’s US$40 million expansion in Germany nears completion
Specility chemicals company Chemtura Organometallics GmbH, a subsidiary of US-based Chemtura Corp, is expecting to complete the final phase by year end its US$40 million project in Bergkamen, in west-central Germany, Chemstura says that the move will greatly boost the…
Vernay, Quantex form partnership to develop disposable pump
US-BASED elastomeric flow control provider, Vernay, has partnered Quantex, a pump technology licensing company that has developed an innovative disposable pump system. Vernay will be marketing this technology. Quantex CEO Paul Pankhurst said that the partnership with Vernay will enable…
Tokai’s new auto anti-vibration rubber factory in India to start in November
JAPAN-headquartered Tokai Rubber Industries, Ltd has completed construction of the new automotive anti-vibration rubber factory in India Rajasthan Neem rana Industrial Park Phase, about 120km southwest of the centre of Dehli. The 1.3 billion yen-worth facility becomes the second production…
LG Chem’s 3rd Quarter net down 23.3% on rubber sector
LG Chem Ltd., the world’s leading lithium-ion battery maker, said its net profit fell 23.3% in the third quarter of this year from a year ago on sluggish performance in the rubber sector. Net profit came to 352 billion won…