FRENCH tyre maker Michelin and Indonesia-based PT Petrokimia Butadiene Indonesia (PBI), a wholly-owned subsidiary of PT Chandra Asri Petrochemical Tbk (CAP), have signed an agreement to create a joint venture company, to produce synthetic rubber in Indonesia. The new company…
Category: Investments
Cabot to buy rest of equity in Mexican carbon black jv
US-based speciality chemicals firm Cabot Corporation has entered into an agreement with Grupo Kuo S.A.B. de C.V. (KUOB.MX) to purchase the remaining 60% equity of its Mexican carbon black manufacturing joint venture, NHUMO, S.A.de C.V, for US$105 million, of which…
Kossan to invest RM100 million for new plants
GLOVE maker Kossan Rubber Industries Bhd is investing RM100 million to build three new plants to boost nitrile glove production capacity from the current 16 billion pieces to 22 billion pieces a year. One plant will be on stream by…
TVS Automobile Solutions and Myers form JV
INDIA-based TVS Automobile Solutions, a part of TVS & Sons and US-based Myers Tire Supply International have formed a partnership to mutually promote their products in the various markets across Asia. The new company, Myers Tyre Supply India Limited, Inc.…
Michelin commits US$1 billion in capital investment in France
RENCH tyre specialist Groupe Michelin has pledged a US$1.06 billion capital investment amidst its moves of plants closing in Columbia and Algeria by end of the year, with the latter being planned to sell to Groupe Cevital, an Algerian private…
Apollo to acquire Cooper Tire in US$2.5 billion deal
INDIAN firm Apollo Tyres will acquire a 100% stake in US-based tyre maker Cooper Tire & Rubber Company for US$2.5 billion (R14,500 crore). The former will fund the acquisition fully by raising $2.5 billion of new debt. The deal will…
Precision Polymer Engineering debuts new US test plant
US rubber seals maker Precision Polymer Engineering (PPE) has opened its new test and customer support plant in Houston, Texas. Established in 1974, the firm specialises in rubber seals for the pharmaceutical, oil and gas industry, mainly in the USA,…
Tokai Rubber Industries acquires Anvis
GERMANY-headquartered Anvis, maker of highly engineered anti-vibration products for automobile applications will be taken over by Tokai Rubber Industries after the latter has completed the sales with H.I.G. Europe, the European arm of global private-equity company H.I.G. Capital. In 2010,…
Titan to invest in Russia
OFF-road tyre specialist Titan International Inc., is currently on talks with Russian tyre maker JSC Cordiant on a potential investment in Russia. In a recent statement, Titan has confirmed interest on said investment plans, saying that mining and farming growth…
Halcyon Agri to acquire Malaysian NR producer
SINGAPORE-headquartered SIR (Standard Indonesian Rubber) producer Halcyon Agri Corporation said that it will acquire Malaysian NR (natural rubber) producer Chip Lam Seng in an RM63 million (USS$25.67 million) deal. With the buyout, Chip Lam Seng’s current two natural rubber factories…