Report: Group chairman ‘will not reacquire’ Kumho Tire

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Seoul – Chairman of Kumho Asiana Group Park Sam-koo has officially declared that he has no intention of reacquiring Kumho Tire, according to a Business Korea report 28 Nov.

The newspaper said Park called an “unscheduled” press conference to help “settle a conflict with Korea Development Bank (KDB)”, the main creditor of Kumho Tire.

Read the source article at European Rubber Journal

Continental in talks to buy Israel’s Argus Cyber Security, reports say

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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.

Read the source article at Automotive News Europe

Michelin Acquires Lehigh Technologies, a Specialty Materials Company

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GREENVILLE, S.C.Oct. 18, 2017 /PRNewswire/ — Michelin today announced that it has acquired Lehigh Technologies, a specialty materials company that uses patented cryogenic turbo mill technology to transform rubber from end-of-life tires and industrial goods into materials for new tires and other products, reducing the amount of raw materials initially needed, such as elastomers and fillers from oil- and rubber-based sources.

“We are always looking for ways to achieve safer and more sustainable mobility, including by using high-technology recycled materials, without compromising safety or other performances, while consuming less of the natural resources that are available in finite stocks,” said Pete Selleck, chairman and president of Michelin North America. “

Read the source article at PR Newswire

Camso buys Stanley Industrial Tires

Camso has acquired US firm Stanley Industrial Tires, which offers tyre service and distribution in Texas and Louisiana. The business has locations in Dallas, Waco, and Gladewater, Texas and one in Shreveport, Louisiana.

Read the source article at Tyrepress

Kenda to acquire Denmark’s STARCO

Tire maker Kenda Rubber Industrial Co (建大輪胎) said it is to fully acquire Denmark-headquartered STARCO Europe A/S for no more than 18 million euros (US$21.2 million) to pursue vertical integration.

The acquisition, which is scheduled to be completed on Monday, also aims to expand the company’s presence in Europe, according to a company filing with the Taiwan Stock Exchange.

Revenue generated from European customers only makes up 8 percent of the company’s total sales, while sales in the US contribute nearly 24 percent, data showed.

“The transaction is Kenda’s first acquisition in the European market and we aim to duplicate our success [of developing a US business] there,” a company official said by telephone yesterday.

Read the source article at Taipei Times

IHS Markit acquires automotiveMastermind in bid for behavior prediction technology

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Global data company IHS Markit will use its acquisition of automotiveMastermind Inc. to step into the behavior prediction software realm. AutomotiveMastermind’s cloud-based technology allows dealers to predict consumers’ automobile-buying behavior to help streamline the purchasing process, IHS Markit, of London, said in a statement Tuesday. So far, the software company has teamed up with dealers handling 15 automotive brands.

Read the source article at Front Page

Lanxess promises to help Chemtura business flourish

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More of the same, but better, could sum up the Lanxess approach to the polyurethanes business that came as part of the Chemtura acquisition.

Read the source article at Rubber and Plastics News

HF Mixing Group plans for major restructuring

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FREUDENBERG, Germany—HF Mixing Group has announced a number of organizational changes and restructuring plans in order to improve its offerings to meet growing market demand for automation and integrated auxiliary products.

Read the source article at Rubber and Plastics News

Zenises denies Doublestar acquisition rumours

Zenises Group CEO, Harjeev Kandhari has denied rumours emanating from the Spanish market that Chinese tyremaker Doublestar has bid as much as 250 million euros for the company. Doublestar and Zenises entered into a European joint venture in October 2016.

Read the source article at Tyrepress

Kumho Tire’s future in limbo as Doublestar cancels deal

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Seoul – Following months of debates and dispute over trademark rights and price tag, China’s Qingdao Doublestar has agreed to cancel a deal to buy a 42.01% stake in South Korea’s second tire-maker, according to the Korean news agency Yonhap.

As reported by ERJ, after months of disputes over trade mark rights, Doublestar, in August, asked for the price tag to be reduced to 800 billion won, from the original 955 billion won (€778 million) agreement signed in March.

Read the source article at European Rubber Journal