Chinese tyre maker Shouguang Firemax intends to invest in a new production facility in Cambodia, according to a filing with Chinese tax authorities. The company expects to invest US$190 million in the tyre facility with an expected capacity of 8…
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Titan acquires tyre maker Carlstar for US$300 mn
US-based Titan International, manufacturer of off-highway wheels, tyres, assemblies, and undercarriage products, has announced the acquisition of Carlstar Group for approximately US$296 million in a transaction consisting of cash and stock, which closed recently, subject to completion of the wire…
Nokian ties up with Enviro/Antin for sustainable rCB
Tyre maker Nokian Tyres says it has made a long-term purchase agreement with a tyre recycling joint venture, namely Antin Infrastructure Partners and Scandinavian Enviro Systems, for sustainable material. The agreement will help Nokian Tyres reach one of its key sustainability…
Bridgestone to withdraw from commercial tyre business in China
Japanese tyre maker Bridgestone Corporation says it has been strengthening its premium focus in China as part of its “Rebuild Earning Power” initiative, since 2021. In its next three- year plan, the Mid-Term Business Plan (2024-2026), Bridgestone will further intensify…
Arlanxeo to construct new HNBR plant in China
Synthetic rubber producer Arlanxeo has announced the planned construction of a hydrogenated nitrile butadiene rubber (HNBR) plant in Changzhou, China. With a nameplate annual production capacity of 5,000 tonnes, the first phase of construction will allow for the production of…
Lanxess completes expansion of tyre release agents unit in India
With the expansion of the Rhenodiv production plant in Jhagadia, Gujarat, speciality chemicals firm Lanxess’ Rhein Chemie business unit has significantly increased its production capabilities. The move will help the firm to meet the growing demand of India and the…
Continental to cut 1,700 jobs globally in auto sector; reduce costs by EUR400 mn
German tech firm Continental has decided on further measures to strengthen the competitiveness of its Automotive group sector. These measures aim to increase the efficiency of Automotive’s global R&D network, it adds. By the end of 2025 at the latest,…
Epsilon Carbon to set up EUR1 bn carbon complex in Odisha
Indian firm Epsilon Carbon says its Integrated Carbon Complex (ICC) project will have a manufacturing capacity of 8 million tonnes/year for various carbon products. The three main components of the complex include speciality carbon (500,000 tonnes/year), carbon black (300,000 tonnes/year),…
Tokai Carbon to invest EUR350 mn in carbon black sector
Japan’s Tokai Carbon says it is targeting a significant investment in its carbon black business, outlining a EUR353 million commitment over the next three years, until 2026. This strategic move is embedded within Tokai’s T-2026 mid-term management plan, reflecting a…
Henkel to acquire US sealing/coating solutions firm
Conglomerate Henkel has signed an agreement to acquire the US-based Seal for Life Industries (Seal for Life) from private equity firm Arsenal Capital Partners (USA). Seal for Life is a specialised supplier of protective coating and sealing solutions in a…