You are here: / investment

Posts

Sentury Tire joins the Shenzen Stock Exchange

, ,

Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the company’s shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Georgia selected as location for $500 million Sentury Tire US factory
  2. Nexen appoints Seung-Do Jin as new European president
  3. Giti to build $560 million US tyre plant
  4. Sentury internationalising with US tyre factory investment
/by

Tatneft invests in Kazakhstan tyre factory joint venture

Tatneft

PJSC Tatneft and JSC Allur Group of Companies are establishing a joint tyre manufacturing facility in Kazakhstan. The factory will produce passenger car, light truck and truck tyres. The planned production capacity is 3 million passenger and light truck tyres as well as 0.5 million truck tyres per year. Production is expected to start in 2022. The project will create about 800 jobs, according to Tatneft.

Read more

Related news:

  1. Tatneft investing 217 million euros in Kazakhstan tyre factory
  2. Marangoni, Tatneft to establish Russia retreading JV
  3. Toyo investing 390 million euros in Serbia tyre factory
  4. Sentury Tire joins the Shenzen Stock Exchange
/by

Linglong building R&D centre in Jinan, China

Linglong

Linglong Tire signed a cooperation agreement with the Jinan Municipal People’s Government on 17 July 2020. As a result, Linglong Tire will settle its research and development and technological innovation base in the central district of Jinan. According to the agreement, the two parties will cooperate in terms of science and technology as well as personnel matters. The relevant leaders of Jinan and Linglong’s chairman and president Wang Feng attended the signing ceremony.

Read more

Related news:

  1. Serbia open for business
  2. Linglong IPO attracts 2000x more interest than offer
  3. ExxonMobil begins Shanghai centre construction
  4. Linglong’s dandelion and polyurethane tyres on-show at Tire+
/by

Tread Ltd adds Golf to vehicle testing fleet

Tread Ltd

UK-based tyre test specialists Tread Ltd has taken delivery of a new Golf 8 test vehicle. Up till now Tread’s company-owned tyre test fleet has included models such as the: Audi 736 SUV Q7; Audi B9 UUHP S5; VW MQB V7 Golf GTI UHP; and a VW T6 LTR.

Read more

Related news:

  1. Davanti completes Idiada benchmarking tests: video
  2. Tread updates web site with new services
  3. Davanti unveils wave of new product, partnership news at first conference
  4. Pirelli UK to Release New Regional Haul Tyres
/by

Cooper Tire expands Kruševac, Serbia factory by a third

,
Cooper Tire

Cooper Tire has invested in increasing production capacity at its Kruševac, Serbia tyre manufacturing plant. – Cooper Tire Serbia, a subsidiary of Cooper Tire & Rubber Company, is managing the US$55 million equipment upgrade and facility upgrade project. As a result of the investment, Cooper’s Kruševac facility will expand to more than 882,000 square feet, adding 118 new jobs.

Read more

Related news:

  1. Linglong Serbia plant talks continue
  2. Linglong Tire confirms Serbia factory plans
  3. Linglong holds business investment talks with EBRD
  4. Toyo investing 390 million euros in Serbia tyre factory
/by

MPs demand £3 billion UK bus investment

Wrightbus

A cross-party group of MPs with bus manufacturing sites within their constituencies have written to the Prime Minister to demand the £3 billion he committed in February to fund investment in “at least 4,000 new zero emissions buses” is brought forward as soon as possible.

Read more

Related news:

  1. Volvo to develop autonomous electric buses for Singapore
  2. SDC trailers bought by Chinese firm CIMC
  3. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
  4. Sumitomo investing to produce truck tyres in South Africa
/by

Hankook invests in its Chinese Sealguard self-sealing tyre capacity, expanding US car tyre plant

Hankook

Puncture proof tyres are said to be increasing demand – despite criticism from recycling associations of such products. In line with this trend, according to media reports Hankook is significantly expanding its self-sealing production capacity in China.

Read more

Related news:

  1. Sentury internationalising with US tyre factory investment
  2. Hankook to receive US plant site in August
  3. Hankook scales back production, sets record inventory glut
  4. Pirelli and Hixih move closer together
/by

Apollo aims for leadership in Indian two-wheel tyre market, Europe next

,
Apollo

Apollo Tyres is aiming for leadership in the premium two-wheeler segment in India with the inauguration of a dedicated two-wheel cross-ply and tyre manufacturing operation. India is the largest two-wheeler market in the world, and still has a headroom for further growth. In light of the Covid-19 pandemic, demand has increased as people move away from shared/public transport and gradually moving to own a personal vehicle. However, while India is at the forefront for Apollo’s venture into the two-wheel segment, the company is also hinting that it plans to export two-wheel tyres to Europe and North America.

Read more

Related news:

  1. Apollo Tyres opens €475 million greenfield Hungarian plant
  2. Cutting ‘bad’ costs, working smarter – Apollo MD Neeraj Kanwar answers T&A’s questions
  3. ZC Rubber’s Anji factory starts making tyres
  4. India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres
/by

Pyramids Tires: $350 million Egyptian factory begins manufacturing

,
Pyramid Tires

Pyramids Tires, a new tyre manufacturer based in Port Said, northeast Egypt, saw its first tyres roll off the production line on 9 May 2020. The factory currently manufactures motorcycle, forklift and agricultural tyres as part of the first phase of the plant’s development. The second phase, which is scheduled to be completed by the end of 2022, will see the company add passenger car, truck and OTR tyres to its portfolio.

Read more

Related news:

  1. Italmatic: A long-established full portfolio manufacturer
  2. For Yinbao Tyre, imitation is the highest form of flattery
  3. Roadbot roadblock – Middle Eastern tyre factory stalls due to pandemic
  4. Tatneft investing 217 million euros in Kazakhstan tyre factory
/by

Kenda denies Indonesia relocation plans

Kenda Rubber Industrial has been producing bicycle and motorcycle tyres at its Indonesia plant since 2015. According to local media reports, the Taiwanese manufacturer now wants to move production capacity from China to Indonesia.

Read more

Related news:

  1. Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Triangle: no Russian tyre plant…for now
  4. Linglong considering European factory
/by

Britishvolt considering Wales for huge battery factory

,
Northvolt

Britishvolt has shortlisted Bro Tathan in South Wales and one other site for the UK’s first 30 plus GWh Gigafactory. Britishvolt eliminated 40 other proposals in the process. When the project is finalised, the company says the initial wave of £1.2 billion of investment into the site will eventually lead to around 3,500 jobs.

Read more

Related news:

  1. Will new battery production capacity replace car production in the UK?
  2. Britishvolt names key strategic partners
  3. New chapter in politics parallels new chapter in UK automotive manufacturing
  4. Tesla considering UK Gigafactory site
/by

UK government investing billions in road and transport infrastructure

Aerial view of winding roadDeva Darshan; Pexels

Following a budget that committed to the largest portfolio of inward investment in 30 years, on 14 May 2020 the UK Transport Secretary promised £1.7 billion for local road repairs and fast-tracked construction works worth £175 million while fewer passengers are using transport system. Hundreds-of-millions-of-pounds worth of upgrades have already been made to the nation’s road and rail networks during the lockdown period with more planned over the coming weeks and months. For the tyre industry, the new could also support flagging demand for OTR and off-road tyres used in such construction projects.

Read more

Related news:

  1. Road investment “will support nearly 10,000 jobs”
  2. NTDA to challenge MOT changes on ‘road safety’ grounds
  3. RMI also voices opposition to MOT extension
  4. …But Brake calls for more 20mph zones
/by

Enviro completes Michelin share offer

,

Recycling firm Scandinavian Enviro Systems AB (Enviro) has completed a share issue worth 116 million Swedish Krone to Michelin. The issue is part of the letter of intent announced on 15 April 2020 and signals a “long-term strategic partnership between the two companies”.

Read more

Related news:

  1. Pyrolysis technology: Michelin partnering with Enviro
  2. Enviro and Michelin extend strategic partnership letter of intent
  3. Enviro: Improved tyre pyrolysis market will help revenues
  4. $100M investment on the cards for BFGoodrich tyre plant
/by

India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres

,

The Competition Commission of India (CCI) has approved Warburg Pincus’ indirect acquisition of a 9.93 per cent stake in Apollo Tyres Limited. The purchase of 108,000,000 compulsorily convertible preference shares in the tyre maker, each share worth Rs 100, is being carried out by Emerald Sage Investment Limited. This transaction is worth approximately Rs 10.8 billion (£114 million).

Read more

Related news:

  1. Warburg Pincus investing £117 million in Apollo Tyres
  2. Warburg Pincus acquires first tranche of Apollo Tyres shares
  3. Aiming for market leadership: Apollo investing a further £610 million in India
  4. Apollo aims for leadership in Indian two-wheel tyre market, Europe next
/by

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.