LANXESS to buy back shares and strengthen pension assets

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The Board of Management of specialty chemicals company LANXESS decided to make use of the authorization granted by the stockholders’ meeting on May 20, 2016 and to acquire own shares of up to EUR 200 million (excluding incidental costs) via the stock exchange. On the basis of the current share price (status: January 9, 2019), this would amount to around 4.9% of the share capital and would correspond to a number of approximately 4.5 million own shares, LANXESS says in a Press release.

Read the source article at Rubber Asia

Show news: Comerio to launch calendering machinery

Contrary to recent trends in export recorded by Amaplast, the Italian trade association for rubber and plastics machinery, Rodolfo Comerio registered an increase in the export of its products in both the rubber and the plastics field at the end of 2019, accounting for +3% of the total sales volume recorded last year in the same period.

Even though 2018 started a bit slow for the Italian company, which manufactures calendering lines, there was a surge at the end of the year.

Read the source article at Tire Technology International

Government shutdown closes ITC, postpones steel wheel hearing

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WASHINGTON – The partial federal government shutdown that began Dec. 22 has forced the U.S. International Trade Administration to suspend operations until further notice – including a Jan. 8 hearing on potential antidumping …

Read the source article at Rubber and Plastics News

Bridgestone to invest $100 million to upgrade Mexican plant

Cuernavaca, Mexico — Bridgestone de Mexico SA de CV is planning to upgrade manufacturing capabilities at its car and light truck tire plant in Cuernavaca with a $100 million (€87 million) investment over the coming two years.

The investment will allow the implementation of innovative processes and new technologies, while also strengthening the plant’s capacity to produce high value-added tires such as run-flat tires, Bridgestone said, in addition to the reduced rolling-resistance Ecopia models.

Read the source article at European Rubber Journal

Doublestar set to inaugurate 4.0 tire plant

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Qingdao, China – Doublestar will bring its ‘Industry 4.0 high performance green passenger car tire’ plant on stream shortly, the company announced 21 Dec.

The tire maker declined to provide further details – including about the start-up date – but indicated that it had completed trialling and optimisation phases on the €105 million (826.7 million yuan) project.

Construction work on the 6 million unit/year facility, located at Doublestar’s site in Qingdao, started in 2016.

Read the source article at European Rubber Journal

JK Tyre launches Internet of Things platform

New Delhi – JK Tyre & Industries Ltd has implemented an industrial internet of things (IoT) platform from US-based Altizon Systems at one of its tire manufacturing plants.

The move is part of a “digital transformation” to enhance visibility and predictability across the manufacturing value-chain, JK Tyre said in a 17 Dec release.

Altizon’s Datonis ‘manufacturing intelligence platform’ will help improve asset-utilisation and reduce conversion-cost per unit of production, the tire maker added.

Read the source article at European Rubber Journal

Year in Review: Doublestar, Kumho complete merger after failed attempt in 2017

At the end of 2017, two strong global tire manufacturers almost linked up to form a major player in the industry.

Qingdao Doublestar Industrial Co. Ltd. didn’t give up, and in July finalized a deal to acquire Kumho Tire Co. Ltd. in a $607 million deal, giving it a 45 percent stake and control of South Korea’s second-largest tire maker.

Read the source article at Rubber and Plastics News

Goodyear to expand capacity 25% at Slovenia plant

Kranj, Slovenia — Goodyear is planning to expand capacity at its Goodyear Dunlop Sava Tires plant in Kranj by about 25% by 2022 with the addition of building equipment for larger rim-diameter tires.

The expansion, valued at $107 million, will add more than 58,000 square feet to the factory that Goodyear has owned since 1998. The expansion will boost capacity by 1.8 million units a year and create up to 160 jobs, Goodyear said.

Read the source article at European Rubber Journal

Bridgestone plans Tennessee tire plant expansion

NASHVILLE, Tenn. — Bridgestone Americas Tire Operations plans to expand its Warren County, Tenn., production plant as part of a three-year, $40 million project.

Read the source article at Rubber and Plastics News

Cooper Tire partners with Sailun for new tire plant in Vietnam

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Cooper Tire announced that it has agreed to form a joint venture with Sailun Vietnam to build a manufacturing plant with the capacity to produce more than 2 million truck and bus radial (TBR) tires annually.

The facility will be located near Ho Chi Minh City, Vietnam, at the site of Sailun Vietnam’s existing operations. Cooper will own 35 percent of the new venture.

Read the source article at Traction News