LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, and A. Schulman, Inc. (NASDAQ: SHLM), a leading global supplier of high-performance plastic compounds, composites and powders, today announced that they have entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. The acquisition builds upon LyondellBasell’s existing platform in this space to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.
Cooper Tire & Rubber Co. has entered into a multi-year manufacturing offtake agreement with Sailun Vietnam Co. Ltd. for the production of truck and bus radial (TBR) tires for global markets. The offtake agreement gives Cooper a third global source of TBR tire production to meet growing customer needs. Tires will be manufactured under the Roadmaster, Dean and Starfire brands.
The 2016 deal for J.D. Power left a U.S. company famed for enhancing transparency — shining a light on quality and customer satisfaction in the automotive and other industries — owned by a private Hong Kong company that was soon embroiled in a largely hidden dispute in China over the source of its funding. The 2016 deal for J.D.
Jiaozuo, China – Aeolus has terminated the acquisition of a 90% stake in Pirelli’s industrial tire unit Prometeon Tyre Group (PTG), the Chinese company announced 4 Jan.
The planned deal, priced at €215 million (1.7 billion yuan), also included a 70% stake in Guilin Beili Tire, another subsidiary of Aeolus’ parent group ChemChina Rubber Corp.
Aeolus’ shares on the Shanghai Stock Exchange have resumed trading.
SINGAPORE—Halcyon Agri, a global natural rubber supply chain manager, has completed its acquisition of the assets and entities of the Polymer Division of RCMA Group.
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.
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.
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. “
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.
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.