SWEDEN-based Trelleborg AB, the parent company of Trelleborg Wheel Systems Americas Inc, has renewed its long-term agreement with Agco Corp for the development and innovation of agricultural tyres. “Following the recognition of Trelleborg as the best EAME (Europe, Africa and…
Category: Investments
Lanxess steps up its butyl rubber footprint in Asia
German speciality firm Lanxess has invested over EUR500 million to upgrade its global butyl rubber manufacturing units in Canada and Belgium and build a brand new facility in Singapore, adding around 200,000 tonnes/year of capacity in total. It is expecting…
Simtec Silicone Parts to move headquarters closer to clients
US-based Simtec Silicone Parts is investing US$3.5 million and hiring 40 people for its headquarters relocating from Wisconsin to Florida. Simtec makes liquid silicone rubber (LSR) into components used in industries from autos to health care to consumer products. The…
Michelin in synthetic rubber jv with Petrokimia in Indonesia
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…
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,…