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…
Category: Investments
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…
Hankook to expand Hungarian tyre plant
SOUTH Korean tyre maker Hankook is investing EUR313 million to expand its plant in Hungary, between 2013 and 2015. The annual capacity of the Hankook plant will be raised to 17 million from the current 12 million. The investment creates…
Sumitomo rubber to acquire Apollo Tyres SA
JAPAN-based Sumitomo Rubber Industries (SRI) is taking over Apollo Tyres South Africa including the Ladysmith Tyre plant and Dunlop Brand rights in Africa. The US$60 million deal, which is expected to be completed within the year to the next four…
Sinochem to expand rubber plantation in Africa
CHINESE firm Sinochem has announced its scheduled expansion of plantations by 20, 000 hectares in the South Region of Africa. The firm, which is one of the biggest state-owned companies in China and is the 168th largest corporation in the…
LIST sets up tech centre in Switzerland
SWISS firm LIST has completed a global demonstration centre in Switzerland, located adjacent to its headquarters. The fully automated LIST Demonstration Centre (LDC) is specifically designed for the development and testing of processing solutions for the devolatilisation and finishing of…
Solvay expands silica output to Poland
BELGIAN chemicals firm Solvay recently held a ground breaking ceremony for the construction of a 85,000-tonne/year Highly Dispersible Silica (HDS) facility in Poland. The new plant represents a EUR75 million investment that will create more than 50 new jobs. The…