Yokohama India, a wholly-owned subsidiary of The Yokohama Rubber Co., Ltd. is to double capacity at one of its plants located in Bahadurgarh, Haryana, to 1.6 million tyres per year; the initial capacity was 0.7 million tyres manufactured per year.…
Category: Investments
Michelin lowballs 2020 free cash flow at less than initial US$1.7 billion
Cautious of the economic impact following COVID-19, French tyremaker Michelin has opted to cut their earnings targets – the company now expects its 2020 free cash flow will come in at more than 500 million euros (US$588 million), down from…
Michelin to invest in Pyrowave plastics recycling to produce synthetic rubber
Renowned tyre manufacturer Michelin has chosen to support recycling company Pyrowave for its world-leading technology allowing infinite recycling of plastics. The Pyrowave technology is able to produce recycled styrene monomer from plastic waste to be later integrated into the production…
Tokai Carbon to acquire French carbon supplier Savoie
Tokai Carbon and its subsidiary Tokai Cobex are to acquire Carbone Savoie International SAS, a French carbon and graphite manufacturer, for US$183 million. Carbon Savoie garners 95% of its sales revenue from exports and in 2018 had a sales revenue…
Toyoda Gosei invests in IoT services provider to push e-Rubber
Japan’s Toyoda Gosei Co., Ltd. has invested in Uhuru Corp., a venture business that provides services and solutions using huge amounts of data in cloud computing and edge devices. “Venture into innovation and new mobility” is one of the key…
Prinx Chengshan inaugurates tyre production at new Thai plant
Chinese tyre maker Prinx Chengshan Tire (Thailand) Co. Ltd. – now known as Prinx Thailand – has just successfully produced its first TBR tyre at its US$300 million plant in Chonburi province, roughly a year after breaking ground on the…
Covid-19: Pirelli implements measures to cut investments, costs and revenue
Italian tyre maker Pirelli says it has taken stock of the deterioration of the global economic growth outlook because of the Covid-19 health emergency and therefore decided to: . reformulate the 2020 targets, while reserving the recalculation of the 2022…
Linglong announces fifth China plant in Changchun and new “6+6” corporate strategy
Chinese tyre manufacturer Shandong Linglong Tire (Linglong) has decided to build its fifth tyre plant at Changchun Automobile Economic & Technological Development Zonein Jilin province, which houses a range of automakers including FAW-Volkswagen and FAW Jiefang. Linglong plans to invest…
Warburg Pincus to invest approx. US$150 million in Apollo Tyres
New York-based Warburg Pincus is investing in “compulsorily convertible preference shares” issued by India’s Apollo Tyres. Compulsorily convertible preference shares are defined as shares that the purchaser plans to convert into ordinary shares after a predetermined date; converting preference shares…
Continental building new Texas plant for advanced driver assistance systems
German automotive manufacturing giant Continental is building a $110 million plant to manufacture advanced driver assistance systems (ADAS) in New Braunfels, Texas, US.The 215,000-sq-ft facility will significantly expand production and research capabilities for vehicle safety functions in vehicles, which has…