European tire wholesaler Van De Ban announces the launch of Gripmax which will be an addition to its SUV/4×4 range. Van De Ban said it will be providing a complete range of Stature HT for the upcoming summer season. Some of these are already in the market. The company will also come up with a
NK Rosneft has agreed to become Pirelli’s biggest investor by acquiring an indirect stake in the company. As per the agreement with Unicredit Bank, Intesa Banking Group, and Clessidra Fund, Rosneft will buy 50% share of the company holding 26.19% of Pirelli & C. S.p.A. stake. The transaction will be carried out at a value
Officials of Thailand, Malaysia and Indonesia attended the a special meeting of the International Tripartite Rubber Council (ITRC) in Bangkok on 13-14 March. A statement from ITRC said the inconsistent and incorrect statistical data provided on natural rubber stocks has given rise to negative market sentiments in the market. The International Tripartite Rubber Council (ITRC)
Evonik has expanded its precipitated silica production to Rayong, Thailand. The company said the investment will increase the company’s responsiveness to changing market conditions. With this new plant, Evonik reaches a global capacity of 500,000 metric tons per annum of precipitated, fumed silica, and matting agents. Press release from Evonik
Hankook Tire has been awarded investment aid of euro 57.9 million from The European Commission for the construction of a new tire plant in Racalmas, Fejer County, Hungary. This project will involve a total investment of € 305.5 million. It will be adjacent to the company’s existing plant in Hungary. According to the commission’s investigation,
Rayonier has hired Frank A. Ruperto, the former Managing Director, M&A for Bank of America Merrill Lynch to assist the future growth priorities of the Performance Fibre Business.This includes the high performance rayon fibre business which supplies to the tire industry. Rayonier confirmed the separation of the performance fibres business in a recent announcement. Ruperto
Styron has reported a plunge in revenues for the fourth quarter as well as for the full year of 6% and 3% respectively. However the company has delivered US$ 30 million of incremental EBITDA as a result of the SSBR capacity expansion. Free cash flow reached US$ 109 million for the quarter, which included $9
Sumitomo Chemical Asia Pte Ltd held an opening ceremony on 10 March for its new styrene butadiene rubber (S-SBR) plant in Singapore. The plant has capacity for 40,000 tonnes per year and is located on Jurong Island. Sumitomo said the location is close to the growing Asian market and maintains a constant supply of butadiene.
Darren Wells took over from Arthur de Bok as head of Goodyear’s EMEA (Europe, Middle East and Africa) operations toward the end of last year. Since then some big decisions have been taken. The Amiens dispute has been resolved; a racing tire plant in the UK is to close and Goodyear Corporate has announced plans
Apollo Tyres has re-set its course in the wake of the collapse of the Cooper deal. The primary ambition remains getting into the top-10 global tire makers, but the tactics of how to get there have changed. TIRes head of research, David Shaw spoke to Apollo CEO, Neeraj Kanwar at the Geneva Auto Salon earlier
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