HAVING been in the Chinese market since 2007, rubber injection moulding machine maker Desma has built up a market share of 10% in the country. In order to meet growth expectations, the German firm has now set up an office…
Category: Investments
Carbon black plant in China
US-based Cabot has opened a new Chinese masterbatch plant to cater to demand from Asia Pacific. It invested US$20 million in the black masterbatch plant located at its Tianjin facility, which is a joint venture with Shanghai Coking and Chemical,…
Synthomer group under one roof
SYNTHOMER Group has opened a new Asian regional headquarters in Kuala Lumpur, Malaysia. This follows its acquisition of PolymerLatex and means that the sales offices of Synthomer and PolymerLatex are now combined in the new premises. The company says its…
More silica from PPG
IN response to the growing demand for precipitated silica worldwide, US-based PPG Industries is increasing its capacity by more than 18,000 tonnes/year. The capacity expansions will be undertaken at its US and Netherlands facilities. Some of the capacity will come…
Sinergi Perdana to complete three acquisitions by year-end
PETALING JAYA – Sinergi Perdana Sdn Bhd, a government-initiated agricultural consortium, is on an acquisition trail and it plans to complete the takeover of two fertiliser companies and one rubber compound company before year-end. A source close to Sinergi Perdana…
Apollo cautious of future but invests in rubber growing
INDIA’S largest tyre maker Apollo Tyres’s revenue in the first quarter grew by 55%. But the company says the continuing all-time high NR prices, along with sluggish growth in some major markets, had a dampening impact on its profitability. Meanwhile,…
Evonik flushed with funds after divestment
THE successful divestment of its carbon black business means that Germany-based chemicals company Evonik has added on EUR900 million to its coffers. The new owners are investors Rhône Capital and Triton Partners and the business has been renamed as Orion…
Russian plant for Continental
GERMAN tyre maker Continental plans to invest EUR220 million to build a tyre plant in Kaluga, Moscow. The plant will have annual capacity of about four million tires, and production is set to start at the end of 2012. The…
US firm moves from China to its home base
WHILE most companies seek low-cost production bases, US-based tyre recycling company Tire International is moving its operations out of China and investing US$25 million to set up a recycling and manufacturing facility in Berkeley County. It has set up a…
Apollo lands in Sri Lanka and the Middle East
TO get a foothold in the Sri Lankan market, India’s largest tyre manufacturer Apollo Tyres has tied up with Ideal Motors, the automotive distribution and marketing arm of Ideal Group. One of Sri Lanka’s fastest growing automotive majors with a…