Goodyear Tire & Rubber Co. will relocate its Latin America regional headquarters in Sao Paulo, Brazil, to Akron, Ohio, the tyremaker said. Roughly 30 to 50 positions at the regional office will move to Goodyear’s corporate headquarters starting in…
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Hankook partners with private firm to jointly bid for Halla Visteon
South Korean tyre maker Hankook Tire is considering partnering with private equity firm Hahn & Company to jointly bid for Halla Visteon Climate Control Corp, an official at Hankook Tire told Reuters, without elaborating. Korea Economic Daily reported that Hahn…
Mitsui and Sinopec establishes jv to construct EPT rubber plant
Mitsui Chemicals and China Petroleum & Chemical have announced the startup of one of the world’s largest EPT (ethylene-propylene-dieneterpolymer) plant for a single train under their joint venture, Shanghai Sinopec Mitsui Elastomers. EPT, which has superior resistance to heat and…
Continental AG gains antitrust approval on Veyance acquisition
Reuters reports, “German auto supplier Continental AG won both US and Canadian antitrust approval to buy Veyance Technologies, a US-based maker of industrial hoses and belting, on condition that it sells certain assets, regulators said on Thursday. The US Department…
Hexpol on a buying spree: buys Portage Precision and Vigar; completes Kardoes buy
Compounder Hexpol has bought US rubber compounder Portage Precision for US$13.2 million. The consolidation happened in December. “The acquisition is a very good complement to Hexpol’s compounding in the US and broadens and strengthens our presence in rubber compounding. Portage…
New incentives to be proposed to assist Malaysian rubber smallholders
The Rural and Regional Development Ministry will propose to cabinet several new incentives soon to assist the rubber smallholders who were affected by the intensive decline in the commodity’s prices. Its Minister Datuk Seri Mohd Shafie Apdal said the incentives…
Thai rubber industry urges gov’t to set farmers compensation for price below Bt60
The rubber industry will today ask the government to compensate farmers for a market price below Bt60 per kilogram after initially seeking compensation for prices below Bt80. The news comes as the government has revealed that it believes a planned…
Myanmar rubber producers expects strong future, undeterred by price slump
Rubber exports are on pace to double by 2016 even as plunging prices hit the international market, according to experts. Prices for sheet rubber fetched 120 baht (US$3.66) a kilogram in Thailand in 2011, but by last week had dropped…
Goodyear Dunlop inaugurates new winter tyre testing facility in Finland
The Goodyear Tire & Rubber Co.’s Goodyear Dunlop (EMEA) group opened its new winter tyre testing facility, deemed the “Arctic Center,” in Ivalo, Finland, on Dec. 8. The track is leased from Action Park, a company that specializes in winter…
IRGA plans to boycott domestic tyre makers
The Indian Rubber Growers Association (IRGA) may boycott domestic Indian tyre manufacturers if tyremakers continue to buy rubber from cheaper, imported sources. The association, which accused the companies of trying to “cash in on the miseries of the rubber farmers,”…