TOKYO — Mitsubishi Materials said its subsidiaries falsified data about products, including parts for cars and aircraft, for at least a year, the latest in a series of quality assurance scandals involving Japanese manufacturers. The company said an investigation in the wake of a data-falsification scandal involving joint venture partner Kobe Steel found that Mitsubishi Cable Industries had inappropriately distorted data for rubber sealing products, used in cars and aircraft.
TEL AVIV/BERLIN — Continental is in advanced talks to buy Israel’s Argus Cyber Security, whose technology guards connected cars from hacking, for about $400 million, Israeli media reported. Cybersecurity experts have criticized the automotive industry for failing to do more to secure internal communications of vehicles with network-connected features.
Tehran – Japanese tire-maker Bridgestone Corp. has started distribution of its products in Iran, through Arian Tire Pouya, an official representative of the Bridgestone brand.
In a statement provided to ERJ, the company said it intended to market passenger and commercial tires in Iran through Arian Tire’s network.
At the initial stage, Bridgestone is introducing four PCR categories of products: Ecopia, Turanza, Potenza and Dueler in Iran in addition to “various products” for…
The natural rubber market is anticipated to continue struggling due to plunging prices, according to the Association of Natural Rubber Producing Countries (ANRPC). A worker of Cu Mgar Rubber Company harvests latex. At its 10th annual meeting in HCM City on Monday, ARNPC said the global natural rubber market has been facing difficulties since 2012.
Kobe Steel Ltd’s (>> Kobe Steel, Ltd.) admission that it fabricated specifications on some of its aluminum, copper and other products has left about 500 affected companies scrambling to pin down the potential impact. No safety issues have surfaced as Kobe Steel attempts to confirm the extent of the data tampering. The following lists companies that have received falsely certified parts or are checking whether they have received them.
Nissan Motor will suspend all Japanese car production for about two weeks from Thursday as the company’s fallout from a lapse in vehicle quality inspection worsens. A production suspension is needed to reconfigure final inspection lines, the company said in a statement. The automaker will also increase the number of final inspectors, CEO Hiroto Saikawa said at a press conference at its Yokohama headquarters Thursday.
BEIJING (Reuters) – President Xi Jinping’s rule in China has been marked by a muscular stance in many areas – from corruption to foreign policy – but investors and business leaders hoping that the nation’s most powerful leader in decades will drive market reforms are girding for disappointment.
As he gears up for his second term, hoped-for market liberalization is increasingly being viewed as secondary to Xi’s state-centered approach to economic policy and his focus on stability. The Communist Party Congress beginning on Wednesday in Beijing is expected to see Xi consolidate his power and is unlikely to see a change in his priorities.
“I don’t see market opening coming. It’s all about discipline and control,” said one senior China-based American executive, who declined to be identified.
Crisis-hit Kobe Steel Ltd said on Friday its steel division has also falsely labelled products, the latest in a string of revelations confirming widespread cheating at the firm that has engulfed its global customers.
The bombshell admissions by Japan’s third-largest steelmaker sent its shares plummeting again, with the scale of the misconduct dealing a body blow to the nation’s reputation as a high-quality manufacturing destination.
Boeing Co, has some of the falsely certified products, a source with knowledge of the matter told Reuters, but stressed that the world’s biggest maker of passenger jets does not as yet consider the issue a safety problem.
More than 30 non-Japanese customers including Daimler AG and Airbus SE had been affected by the firm’s data fabrication, the Nikkei newspaper reported on Friday.
Tokyo – Kobe Steel Ltd is investigating whether any of its tire & rubber machinery activities are affected by the ‘non-conformance’ scandal that has engulfed…
Cambodia’s rubber exports to the international market saw an increase of 33 percent in the first nine months of 2017, while the average price for the commodity went up 53 percent, compared with the same period last year. A local farmer tapping a rubber tree to collect the latex.