Polytek Development Corp. a US manufacturer of specialty polymers for coating, mould making, and casting applications and portfolio company of Arsenal Capital Partners, has acquired Specialty Resin & Chemical. Related: Arsenal Capital Partners scores Polytek The acquisition of Specialty Resin & Chemical…
Category: Investments
Goodyear shifts to renewable energy in Euro, Turkish plants
In the first of a multi-phase plan to procure 100% renewable energy in all of its facilities across Europe, Middle East and Africa by the end of 2022, Goodyear Tire & Rubber Company stated it will adopt 100%rcent renewable energy at its Goodyear factories across…
Bridgestone Americas to push mobility solutions business with Azuga acquisition
Bridgestone Americas is securing Azuga Holdings and the Azuga fleet management platform for US$391 million. The acquisition is anticipated to accelerate Bridgestone’s efforts in sustainable mobility solutions as a key aspect of the company’s advanced mobility strategy. The transaction is…
Altaris acquires 51% of Michelin healthcare subsidiary Solesis
Investment firm Altaris Capital Partners has completed the acquisition of a 51% stake in US biomaterials company Solesis from Michelin. The deal retains 49% of Michelin’s stake in Solesis, which now operates as an independent company. Solesis operates through three…
Shin-Etsu Chemical’s Silicone Division invests on carbon neutrality goals
Tokyo-headquartered Shin-Etsu Chemical’s Silicone Division will be ploughing an investment totalling JPY20 billion to curb greenhouse gas emissions (GHG). Shin-Etsu expounded that the Silicone Division’s main manufacturing plant, the Gunma Complex, will reduce the volume of GHG by 14% against…
Ube Industries to split off SR business; says low demand weakened profitability
Japanese chemical company Ube Industries will split off its synthetic rubber business in a company split (simplified incorporation-type split) by establishing a wholly-owned subsidiary, Ube Industries, Ltd, that will succeed in the synthetic rubber business. The company split will take…
Symbio advances hydrogen mobility with new dev’t projects, construction of largest hydrogen fuel-cell in France
Symbio, a joint venture between Michelin and Faurecia, is working on two development projects: one with bus maker Safra, the other with Stellantis. Michelin is determined to become a world leader in hydrogen fuel cell systems through Symbio, its joint…
Bridgestone invests JPY10 bn for new equipment at Shimonoseki Plant
Japanese tyre maker Bridgestone Corporation is investing JPY10.2 billion in installing cutting-edge equipment for certain facilities at the Shimonoseki plant, the company’s flagship production base for tyres for mining and construction vehicles (OR tyres), and which started operations in 1970.…
Carlyle Group to sell Liberty Tyre Recycling to ECP
Global investment firm Carlyle Group is selling Liberty Tire Recycling to ECP, investor across energy transition and decarbonisation infrastructure assets, including power generation, renewables and storage solutions, sustainability-linked infrastructure, and customer solutions facilitating the energy transition. Liberty has a network…
AirBoss subsidiary nabs US$576 mn Gov’t contract for high-demand PPE
US’s largest custom rubber compounder AirBoss of America’s wholly-owned subsidiary, AirBoss Defense Group (ADD), was awarded a contract worth up to US$576 million by the US Department for Health and Human Services (HHS) – Office of the Assistant Secretary for Preparedness…