It is divesting its automotive operation to allow it to focus and develop its automotive-related operations…
Category: Investments
Thai government props up glove sector
THE Thai government is intervening in the rubber gloves industry by offering soft loans of 5 billion baht to local agricultural institutes and 10 billion baht to rubber estate organisations, enabling latex prices to stay above US$2.30 in the short…
Analysts give thumbs up to Sime Darby’s buy
MALAYSIAN conglomerate Sime Darby’s acquisition of a 95% stake in Indonesian company PT Indo Sukses Lestari Makmur for US$4.36 million has been given the thumbs up by analysts. It has been reported that the acquisition, through its indirect wholly-owned subsidiary…
Keyuan assured of raw material from Shell
CHINESE petrochemicals firm Keyuan Petrochemicals has signed a long-term supplier agreement with Shell Petrochemicals, a joint venture between CNOOC and Royal Dutch Shell Group, to purchase butadiene, an essential raw material used in the production of styrene-butadiene-styrene (SBS). This year…
Second rubber park in India
INDIA has set up a Rs23 crore industrial rubber park in Bodhungnagar in Western Tripura. A joint venture between the Tripura Industrial Development Corporation (TIDC) and the Rubber Board, it is the second of its kind in the country after…
Koppers’s Chinese carbon plant
US-based carbon compound and treated wood products maker Koppers is setting up three coal-tar based carbon product plants in Jiangsu, China, with Nippon Steel Chemical, Sojitz JECT, Yizhou Group and the Pizhou government. The facilities will comprise a 250,000 tonne…
Hexpol acquires TPE maker
GERMAN firm Hexpol’s acquisition of Müller Kunststoffe has been finalised, with the latter becoming a part of business area of the compounding business thereby broadening Hexpol’s TPE portfolio. According to Hexpol, the acquisition price of EUR39 million is funded by…
New subsidiary for MHI
JAPANESE firm Mistubishi Heavy Industries (MHI) will establish wholly-owned subsidiary to handle the industrial machinery business, including material handling systems and rubber and tyre machinery, effective April. It will be created by integrating the industrial machinery business, currently being operated…
Baosteel starting up wire rod facility
CHINESE steel wire maker Jiangsu Baosteel is marking its entry into the high-grade wire rod product field with the set up of precision steel wire facility in Jiangsu Haimen Haibao Industrial Park. The project will be constructed in two phases…
Orion builds carbon black plant in South Korea
US-based Orion Engineered Carbons will construct a fifth production unit for tread blacks at its plant in Yeosu, South Korea. The additional unit will increase the plant’s annual output by 36 tonnes to a total of 188 tonnes. The project…