India’s Ruia Group has stated it is at a “very advanced” stage of discussion regarding a proposed joint venture with an international partner to build a passenger car radial factory. This information appears to confirm news published by the Calcutta Telegraph last November; the Indian newspaper reported that the Ruia Group was engaged in talks with Sumitomo regarding the construction of such a factory.
According to the Calcutta Telegraph, the Calcutta-based Ruia Group and Japanese tyre manufacturer Sumitomo are engaged in talks concerning the construction of a radial tyre factory in India. It is reported that the joint venture would cost around 500 crore rupees (US$113 million) and would either be a 50/50 project or with Sumitomo taking a majority holding.
Transense Technologies plc has formed a joint venture company with SenGenuity, the sensors division of Vectron International Inc. The joint venture company, Bulldog Innovations Limited is a 50/50 partnership between Transense and SenGenuity that is designed to enable “closer cooperation in order to accelerate the development of specific applications based on the companies' existing [battery-less sensor] technologies.”
Aluminium Wheel Manufacturer Superior Industries International has announced a net income of US$10.1 million for the second quarter of 2010, a figure that includes a $4.1 million loss on the sale of the company’s joint venture in Hungary. This compares to a net loss in the second quarter of 2009 of $21.0 million.
India’s Kesoram Industries Ltd has notified the Bombay Stock Exchange of the declaration of a lockout at its Birla Tyres plant in Orissa as of July 16. This measure has been taken, the company says, in response to a strike that took place the previous day. In a corporate filing, Kesoram stated the workers “are forcibly squalling inside the factory premises of the said section in an illegal manner.”
Ceat Ltd announced on Friday 4 June that its Sri Lankan investment arm – Associated Ceat Holdings Company Pvt Ltd (ACHL) – has become a wholly-owned subsidiary after it bought the remaining 4.5 million shares in the company. Ceat previously held a 54.84 per cent stake in ACHL. ACHL holds a 50 per cent stake in CEAT Kelani Associated Holdings Pvt Ltd, a joint venture with Sri Lanka's Kelani Tyres.
The emissions systems joint venture between Robert Bosch GmbH, Deutz AG and Eberspächer GmbH & Co. KG commenced operations earlier this month having received the necessary approvals from the EU Commission, according to the companies. In December 2009, the three parties announced their intention to co-operate in reducing exhaust emissions from construction machinery and agricultural vehicles, to satisfy future emission regulations.
Engineering company Laursen & Toubro (L&T) and Japan-based Mitsibishi Heavy Industries (MHI) are reportedly planning to enter into a “heavy industrial tyre” joint venture in India. According to reports in India’s Business Standard, L&T has “initiated discussions with MHI to form a joint venture that would manufacture a wide range of heavy industrial tyres in the country.” Quoting a source close to the talks, the newspaper added: "This would bring in a good blend of high-technology from Japan and low-cost manufacturing from India. The JV would also help to create a great synergy in L&T's construction business."
Last year Continental made the decision to begin importing industrial and earthmover tyres manufactured by joint venture partner Simex into the UK and Ireland. The range available in this sector has now been expanded through the launch of the Simex SE65, a product designed for the construction industry.
Pirelli is considering setting up a joint venture tyre manufacturing facility in Saudi Arabia. UAE based newspaper Gulf News has reported on the tyre maker’s desire to capitalise on the abundance of raw materials available in the Persian Gulf city of Jubail. A Pirelli delegation visited the city in December and held discussions with officials from the Royal Commission of Jubail and Yanbu.
Nevada, USA based company Quadra Projects Inc. has announced that it is in “ongoing negotiations” to enter into a joint venture with two companies – Renewable Energy Capital LLC and an “undisclosed” tyre supplier – to establish a waste tyre conversion plant capable of processing waste tyres into marketable by-products.
Sumitomo Rubber Industries has announced its intention to establish two joint venture companies in Thailand, together with Thai Eastern Group. One of these joint venture companies will centre on a natural rubber plantation, while the other on the setting up of a natural rubber processing plant.
The Sempertrans division of Semperit AG Holding has signed a joint venture contract with China’s Wang Chao Coal & Electricity Group to produce conveyor belts in Shandong Province. In the medium term around 15,000 tonnes of conveyor belts will be produced at the site, enabling the former tyre manufacturer to gain a foothold in the world’s largest market for these products. Semperit ceased producing tyres in 1985 when it sold the rights to the Semperit brand name to Continental.
Pirelli & C SpA and state-run Russian Technologies will reportedly buy an existing tyre plant in Russia “next year.” Speculation continues as to exactly which plant Pirelli is interested in. However, Pirelli group chairman Marco Tronchetti-Provera’s earlier remarks that the plant is “relatively new” suggest it is likely to be an ex-Amtel-Vredestein site, with Voroznezh and Kirov leading the running.
Quoting a joint statement published today (3 December 2009), the two companies confirmed that their joint venture will also build a new plant in the Samara region of Russia for production of tyres and metal cord. As has been previously been reported, the new 300 million euro ($453.4 million) plant is expected to have an annual capacity of 4 million units within five years and employ 1,500 people.
Taiwan’s Cheng Shin Rubber Industry Co. will supply OE tyres to China’s Geely Automobile Holdings.
The tyremaker also plans to invest $300 million to expand its production capacity in China, Thailand, Vietnam and Taiwan, according to company officials.
In August, Cheng Shin Rubber agreed to buy Toyo Tire & Rubber Co.’s share in its joint venture tyre plants in China. (Tire Review)
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