Galgo has opened new European headquarters (including warehousing and offices) in order to expand the company’s retreading coverage and sales presence. This expansion takes the company from Tongeren to the Ghent-Antwerp-Brussels triangle in Belgium, close to inland Beverdonk and the Meerhout container terminal.
Brembo announced that it inaugurated its new brake plant in Escobedo, Mexico on 20 October. Completed in record time, with an investment of $36 million, the new plant will focus on the production of aluminium calipers and is intended to strengthen Brembo’s presence in North America. At the same time the company announced a plan to invest an additional $93 million to build a new foundry for cast iron discs.
Trinseo announced that it will expand capacity for Solution-Styrene Butadiene Rubber (S-SBR) on 24 October 2016. According to the company, this increased investment is a direct response to rising customer demand for this technology.
Michelin has opened a new distribution centre for the Iberian peninsula following investment of some 32.5 million euros. The goal of the logistics centre located in Illescas, near Toledo in Spain is to optimise logistics performance in Spain, Andorra and Portugal, not to mention the Balearics, the Canaries, the Azores and Madeira.
Retreading solutions provider Eversafe Rubber has outlined plans for expansion beyond the Asean region once it has completed its current initial public offering (IPO), with South America identified as a target.
The company has released a draft prospectus describing potential investment in South America, following its first moves into Brazil this year. Plans include trademarking its brand in several regions, including South America.
Following the successful launch of Hamaton Limited in Europe, the TPMS and valve manufacturer has announced the opening of its new North American headquarters. Hamaton Incorporated will be located in Wixom, Michigan – not far from Detroit, and will open in November 2016.
ZC Rubber’s new bike tyre factory in Anji, Zhejiang province, has commenced production. The Anji factory is associated with an investment of up to US$620 million and covers 860,000 square metres, focusing on the motorcycle tyres, e-bike tyres and inner tubes etc. Shen Jinrong, president of ZC Rubber, says that the factory‘s output value amounts to more than $1 billion.
Sentury Tire has selected a plot of land just outside LaGrange, Georgia as the location for its US$500 million US tyre factory, according to various local news sources. Reports in local US newspapers suggest that the decision was made on Thursday 1 September – at which point the choice was between the shortlist of the reportedly successful Georgia location and the Memphis Regional Megasite in Tennessee.
Goodyear (Thailand) Plc is set to invest 5.63 billion baht (US$162 million) over the next 10 years adding radial aircraft tyre production technology to its Pathum Thani province-based factory in order to meet growing demand in the Asia Pacific region. The first phase of the three-phase expansion is targeted to begin operations by 2018.
TVS Srichakra reports that it is planning to increase total tyre production capacity from 2.3 million tyres per month to 2.5 million. The Madurai, India-based firm told local news sources that it do so by the second quarter of the current financial year.
Following yesterday’s confirmation that Triangle is going ahead with the initial public offering (IPO) on the Shanghai stock exchange the company planned last year, the company has revealed a number of other key details.
The China Securities Regulatory Commission (CSRC) approved Triangle Tires’ most recent initial public offering (IPO) bid. Qingdao, Shandong Province-based tyre manufacturer Triangle was one of 13 firms to receive a CSRC go-ahead on Friday 19 August. The IPO is set to take place in Shanghai. An official IPO announcement is expected in September.
Earlier in 2016, Pelmar Group’s board opted to move the firm’s headquarters after 30 years of being located in Ramat Hasharon. The group will now be based in Yokneam, northern Israel where group company TGL SP Industries Ltd is already based.
Continental has opened its first training centre in the APAC region in Hefei, Anhui province in China. The facility is located in Anhui Province, in the Hefei Hi-tech Industry Development Zone, beside the company’s tyre plant and R&D test centre.
DriveRightData has established a new sales office in South America as part of the firm’s global expansion plan. This year, the company embarked on a global expansion plan that has seen headquarters established in Los Angeles and South Korea. Last year the company established a base at Mira Technology Park in Nuneaton in Warwickshire, United Kingdom.
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