TOYO Tire North America Manufacturing Inc will commence its fourth expansion of production capacity to meet growing tyre demand in the North American market. Toyo’s North American production base for passenger vehicle and light truck tyres has been utilising a…
Category: Investments
Neville partners with Versalis to produce hydrocarbon resin
NEVILLE Chemical Company, through its joint venture company Neville Venture, has signed a strategic partnership agreement for the production of hydrocarbon resins at the Versalis Priolo plant in Sicily, Italy. The parties have also entered into a license agreement related…
Problematic Apollo/Cooper deal still on
Indian tyre maker Apollo Tyres has run into problems over its proposed US$2.5 billion acquisition of US tyre maker Cooper Tire. Firstly, in June, prices of the public-listed firm plunged the most in more than two decades in Mumbai trading,…
Carlisle divesting tyre business amidst Chinese competition
CHARLOTTE-based diversified company, Carlisle, is exiting from the business as it faces plunging profit margins versus “price-aggressive” Chinese competitors. The company, founded in 1917, has started selling inner tubes for automobiles and later on expanded into other manufacturing lines, from…
HF Mixing group melds batch mixing machinery businesses
ALL HF Mixing Group rubber “batch” mixing machinery businesses in North America will be consolidated to HF Rubber Machinery, Inc. (HFRM) for supporting Banbury Equipment, Parts and Services, starting September 3. HFRM will now provide parts, equipment and service support…
Lankem Ceylon announces plan for rubber plantation in Cambodia
SRI LANKA-headquartered Lankem Ceylon Plc has announced that its unit, Kotagala Plantation, is planning to develop some 15,000 hectares of rubber plantation in Cambodia. Lankem’s Chairman A. Rajaratnam says via an annual report, “The area that will be used for…
Modi rubber posts standalone June sales
NEW DELHI-based Modi Rubber, has reported a standalone sales turnover of Rs 1.05 crore and a net loss of Rs 1.69 crore for the quarter ended June 2013. Other income for the quarter was Rs 1.15 crore. Over the same…
Cooper standard takes over Jyco Sealing Technologies
COOPER Standard has acquired the automotive sealing business of Michigan-based Jyco Sealing Technologies. The acquisition took effect on July 31. The business acquired in the transaction is operated from Jyco’s manufacturing locations in Canada, Mexico and China. Terms of the…
Yokohama Rubber to produce auto aircon hoses in Mexico
YOKOHAMA Rubber Co, Ltd, has announced that its US subsidiary YH America, Inc (YHAI), will start production of automotive air conditioning hoses in Mexico. YHAI, which engages in the assembly and sale of automotive air conditioning and power steering hoses,…
Cooper 2Q profit drops; confident with Apollo merger
COOPER Tire & Rubber has posted a 31% drop in the second quarter. It said, its sales declined while costs increased. Citing its company report, net sales were US$884 million, a decrease of US$174 million compared with the same period…