Bridgestone puts $300M price tag on relocated Shenyang plant
Further details of the new factory Bridgestone will build in China to replace its Shenyang plant have been announced, including the tripling of investment plans.
Further details of the new factory Bridgestone will build in China to replace its Shenyang plant have been announced, including the tripling of investment plans.
Michelin North America reports that tyre manufacture on it Lexington passenger and light truck plant’s expanded production line began on 12 October, marking a key milestone in the completion of a US$200 million investment. Once fully implemented, this investment will add 270 workers to the Lexington plant.
On 1 October Apollo Tyres gave word that its Board of Directors has approved the raising of US$150 million through placement of shares to qualified institutional buyers. In a filing to the BSE, Apollo said its board has also approved increasing the investment limit of foreign institutional investors from 30 per cent of the company’s paid up capital to 40 per cent.
The Liberal Democrats voted overwhelmingly in favour of widespread 20mph limits, and government investment in this, at their party conference, which is taking place this week.
They called for local authorities "to give active consideration to introducing 20mph limits in existing residential and other suitable roads over the next few years, with schemes to be designed in consultation with local residents" and for a minister within the Department for Transport to be responsible for working with local authorities to achieve this.
A motorcycle repair centre opened by Altrincham-based insurance specialist Carole Nash is celebrating its tenth birthday. The Carole Nash Repair Centre opened in August 2002 following a £250,000 investment. Since then it has rescued and repaired thousands of bikes nationwide which were damaged in accidents or through attempted thefts.
New photovoltaic plants installed at Rösler’s headquarters in Dortmund, Germany, are expected to be able to provide for 13 per cent of the site’s future electricity requirements. Two 99,840 watt plants have been installed, and Rösler says that together they are capable of producing sufficient power for 40 bungalows. Company managing director Martin Rösler commented that this investment in solar technology represents more than just an active commitment to environmental protection; he says it will also enable Rösler to retain some independence in the face of increasing energy prices.
According to the Indonesia Investment Coordinating Board, or BKPM, Pirelli intends to invest US$126 million in a new tyre factory within the company. Reuters reports Chatib Basri, who was appointed chairman of the Board in June, as saying “we gave approval a few days ago for Pirelli to invest in Indonesia. They want to build a tyre factory."
On 10 July, the general director of Pirelli Tyre Russia and Pirelli S.p.A. chief procurement officer, Carlo Costa, met with Voronezh Region governor Alexey Gordeyev to discuss plans for the Voronezh Tyre Plant, which the Italian tyre maker acquired together with Russian Technologies earlier this year. During the meeting, Costa revealed that Pirelli will invest in modernising the facility with a view to producing Pirelli-branded tyres there from 2014.
Off-road tyre manufacturer Mitas has appointed Vladimir Rada its new chief financial officer. Rada is a Czech national who has worked at AcelorMittal Distribution Solutions since 2007 in various finance and controlling related positions. In addition, interim CFO Marek Beran has been appointed head of central logistics, while Mitas’ US investment director Vladimir Dusanek has moved to Prague to oversee central controlling.
The Jakarta Globe reports that Multistrada Arah Sarana intends to diversify into industrial real estate. The tyre maker is believed to be making this move in response to alleged Indonesian government plans requiring all manufacturers to relocate to industrial estates before December 2012. Company president Pieter Tanuri said the new subsidiary will be called Kawasan Industri Multistrada and will build an industrial estate on 210 hectares of land near Jakarta. While Tanuri has not disclosed the level of investment Multistrada is making in the project, the company president said he expects construction to be complete by December 2014.
Turkey’s Sabanci Holding intends to invest around US$130 million in its Kordsa cord and yarn operation and $110 million in its Brisa tyre making division during the course of 2012. According to Mehmet Pekarun head of Sabanci’s Tire, Tire Reinforcement and Automotive Group, these two investments are being undertaken as part of an overall $275 million investment programme.
Link Tyre Sales Ltd, based in Dewsbury, is introducing UniSerV from Cam Systems to its business. The company signed up for the system after witnessing the extensive benefits of the UniSerV platform in call logging, customer policy and contract management, integrated Casing Management and improved breakdown form processing at the UniSerV roadshow hosted by Cam Systems in October 2011.
Groundbreaking has taken place at the site of the future Casumina radial plant in Vietnam’s Binh Doung Province; on the morning of 16 February the company, Southern Rubber Industry Joint Stock Company chairman and CEO Nguyen Ngoc Tuan presided over a ceremony marking the start of construction work at the 12 hectare site. Stage one work is expected to be completed next year and will give the plant an initial capacity of 350,000 tyres per annum. Completion of stage two is planned for late 2015 and will increase capacity to 600,000 tyres, while stage three, scheduled for completion in 2017, will give the plant a 1,000,000 piece annual capacity. Total investment in the plant amounts to VND 3,380 billion (£101 million).
Pirelli has appointed Paolo Ferrari as chairman and chief executive officer of Pirelli’s NAFTA region. He will be tasked with driving the group’s growth and further strengthening its commitment to its US, Canadian and Mexican operations, according to a Pirelli statement. Matteo Battaini will focus on the role of NAFTA region chief operations officer.
Micheldever/Southam Tyres has added the new General Eurovan 2 to the General Tire product range. This means the new van range covers 88 per cent of the UK van sector. According to the company, the new Eurovan 2 is optimised to European road conditions through a combination of flat belt technology and tread design, ensuring high mileage performance and safety.
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