joint venture Archives - Page 14 of 24 - Tyrepress

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Nokian JV Facility in Kazakhstan Granted Funding Approval

Investment funding for the planned Ordabasy joint venture in Kazakhstan, the product of cooperation between Nokian Tyres and Kazakhstanian multi-industrial company Ordabasy Corporation JSC, gained approval from the Development Bank of Kazakhstan during its sitting on March 28. The Development Bank, formed in 2001, is responsible for providing credit to medium-term and long-term projects in non-primary sectors of the national economy.

Establishment of the Ordabasy facility is anticipated to cost 160 million euros, and will have an annual capacity of four million tyres when complete.

31st March 2008/by Tyrepress Editors

Michelin Gets OE on Russian Toyotas

Groupe Michelin will be the OE tyre supplier for Toyota Camry saloons produced at Toyota’s new plant near St. Petersburg, Russia. Michelin did not disclose where those tyres will be made, but it is expected the OE tyres will be produced at Michelin’s joint venture plant near Moscow. (Tire Review/Akron)

31st January 2008/by Tyrepress Editors

Former Goodyear Division Forms China Joint Venture

Company News, International News

Veyance Technologies Inc., formerly Goodyear Tire & Rubber’s Engineered Products division, has entered into a joint venture with Ruiyuan Rubber and Plastics Co. Ltd. to make conveyor belts in Yanzhou, China. Veyance said the new entity, Shandong Aneng Conveyor Belt & Rubber Co. Ltd., is the largest manufacturer of conveyor belts in China, with 20 production lines producing more than 12 million square metres of conveyor belts each year.

17th January 2008/by Tyrepress Editors

Israeli Retreading Firm Expands into Europe

Israeli manufacturer of retreading materials and other rubber products, Ein Shemer Rubber Industries, has announced its acquisition of a cooperative partner based in Bosnia-Herzegovina, Fagum, and has stated that by April the two partners intend to establish a joint venture company, to be known as “Ein Shemer Europe.”

Fagum is based in the town of Zvornik, in the northeast of Bosnia-Herzegovina, and already possesses the technology to produce rubber products. Director of Ein Shemer, Natan Vilner, said that by April a considerable sum of money will have been invested in Fagum and 100 new jobs created. Ein Shemer currently employs 170 people and has an annual turnover of approximately ten million euros.

15th January 2008/by Tyrepress Editors

PCL-Sumo Appoints New CEO

PCL’s Indian joint venture (PCL-Sumo) has announced the appointment of Uday Bhaskar as its new Chief Executive Officer. He will lead the company’s Mumbai-based team providing sales and support service for PCL’s tyre inflation and pneumatic products on the Indian marketplace. The alliance of PCL and Sumo Hi-Tech Marketing Pvt Ltd. has allowed Indian customers instant local access to a vast resource of experience, products, local training and international support, all delivered with an in-depth knowledge of the Indian market.

11th January 2008/by Tyrepress Editors

Conti to Build Rs 1 billion Automotive Plant in India

Continental AG is looking to boost its India operations and broaden the range of products on offer to customers in the region following its recent buyout of Siemens’ VDO unit. One particular new investment Conti is making in India is its planned automotive electronics plant and R&D facility in Bangalore, which will be established with an initial investment of Rs 1 billion (£12.9 million). Joint venture facilities operated in conjunction with Rico and Ashok Leyland will also attract fresh investment in the coming years.

“In the next decade one of the main focuses of the automotive industry will be the so-called affordable cars, especially in the growth markets like India and China. The production of cars within a price range of Rs 5 Lakh (about £6,500) will increase from current figure of 650,000 to approximately 1.1 million units by 2017. This is a 70 per cent increase. To cope with this demand we have to focus on solutions for the Indian market; people want safe, yet affordable cars,” said Dr. Karl-Thomas Neumann, chief technology officer and board member of Continental AG. “Continental has developed strategies and products that are suited to these demands,” Dr. Neumann added.

10th January 2008/by Tyrepress Editors

Rubber Tech 2008 Dates Announced

The All India Rubber Industries Association (Northern Region) and Confederation of Indian Industry (CII) have announced dates for the inaugural Rubber Tech 2008 – an International Exhibition & Conference on Rubber Technologies, Machineries & Products. The show will be held in New Delhi, India, between February 23 and 26, 2008.

The rubber Industry has been growing at over 10 per cent annually, and the two organisers believe there is an increasing need for technological advancement in order to achieve efficiency and compete globally. Technical advancement – in rubber products, related machinery and technical services – has therefore been made the principal focus of Rubber Tech 2008. The exhibition is intended to act as a platform for the showcasing of technological advancements that are taking place in the industry, and the organisers are confident Rubber Teach 2008 will establish a benchmark for India’s rubber industry. The show will facilitate joint venture, technology transfer, and marketing arrangements and will also provide opportunities to network with the global rubber industry’s who’s who.

27th November 2007/by Tyrepress Editors

Evonik Acquires Degussa Engineered Carbons

Evonik Industries has acquired the remaining 50 per cent of shares in its former carbon black Joint Venture – Degussa Engineered Carbons (DEC), effectively 29 October 2007. DEC will now be a 100 per cent owned subsidiary of Evonik. Financial details of the transaction have not been disclosed.

“Carbon black is one of our strategic growth areas that we are systematically expanding. This transaction underlines Evonik’s commitment in the North American market and will add significant value to our Group,” said Dr. Klaus Engel, Member of the Management Board of Evonik and responsible for the Chemicals business area. Thomas Hermann, head of Evonik’s Advanced Fillers & Pigments Business Unit, commented: “The acquisition is an important step to consolidate our position in one of our key strategic markets, and will help us to serve our global key accounts even better.”

1st November 2007/by Tyrepress Editors

Changes Coming for Tyre Corporation of India

The long embattled Tyre Corporation of India will soon gain a new owner and company structure. These changes are taking place as a result of the Indian government’s October 25 approval of a proposal for the company’s disinvestment.

The proposal calls for the “sick” public-sector enterprise to be operated as a joint venture, with a private company acting as partner. For such an arrangement to take place India’s government needs to introduce an amendment to the Tyre Corporation of India Ltd (Disinvestment of Ownership) Bill 2007. India’s Information and Broadcasting minister P. R. Dasmusi has informed media that the government has granted approval to these amendments, and the bill is now pending before parliament.

29th October 2007/by Tyrepress Editors

JV Formed for Shock Absorber Supply in Europe

ArvinMeritor and TRW Automotive have laid out plans to form a joint venture for the distribution of aftermarket shock absorbers in Europe, with the planned operation covering all light vehicle shock absorbers both companies’ produce for the region. Operation and distribution through the joint venture is planned to commence in January.

TRW’s vice president for aftermarket in Europe and Asia Pacific, François Augnet, said in a statement that “by combining the strengths of ArvinMeritor’s engineering and manufacturing competencies and the Gabriel brand name with TRW’s extensive sales and distribution network, we are confident that we can roll out successful shock absorber programs for the European independent aftermarket.”

17th October 2007/by Tyrepress Editors

New Process Improvement Chief Named by Cooper

(Akron/Tire Review) Cooper Tire & Rubber Co. appointed Jeff Endicott as its new process improvement director, where he will oversee quality improvement, cost control and waste reduction for Cooper’s North America plants.

Most recently, Endicott served as technical director of the Cooper/Kenda Tire joint venture manufacturing facility in Kunshan, China.

21st September 2007/by Tyrepress Editors

ArvinMeritor to Produce Air Link at Mexico Plant

(Akron/Tire Review) ArvinMeritor Inc.’s Commercial Vehicle Systems (CVS) unit will manufacture Meritor Air Link suspension at its Sistemas Automotirices de Mexico, S.A. de C.V. joint venture facility in Monterrey, Mexico.

The company added the Air Link suspension to its product line through a licensing agreement with Raydan Manufacturing Inc. of Alberta, Canada in 2004. The agreement covers suspension applications up to and including 52,000-pound GAWR for commercial truck, and specialty and military vehicles.

“Applying our industrialisation and supply chain management tools to the Meritor Air Link suspension will allow us the opportunity to respond to our customers’ unique needs, including modules and systems, while controlling all aspects of quality and cost,” said Larry Dowers, general manager of product strategy.

Air Link’s walking beam air suspension design offers the ride and handling advantages of an air suspension for heavy haul applications, said ArvinMeritor. Other design advantages include desirable roll stability characteristics and lower suspension maintenance as a result of fewer moving parts

30th August 2007/by Tyrepress Editors

Beru Appoints New CEO

During a meeting on August 27 the Supervisory Board of Beru AG agreed upon the appointment of Dr.-Ing. Thomas Waldhier as member and chairman of its Board of Management, a position that he will commence on October 1.

Dr. Waldhier has more than ten years of experience as a member of management boards in companies supplying the automotive industry. Since April 2004 he has been member of the management board at SAS Autosystemtechnik, Karlsruhe, a joint venture company between Faurecia and SiemensVDO.

28th August 2007/by Tyrepress Editors

Bekaert Australian Steel Cord Plant to Close

Belgium’s Bekaert Group and its Australian joint venture partner OneSteel Pty Ltd have decided to close their steel cord plant located in Geelong, Australia. This decision follows an extensive review of business performance, including customer and market outlooks, financial performance, plant operations and sourcing alternatives.

Employees, customers and suppliers have been advised of the closure, which will occur by the end of the year after all customer supply contracts and commitments for 2007 have been completed. The company says it will work closely with the plant’s 74 employees and their union representatives to provide advice and job placement assistance.

The joint venture, known as Bekaert Australia Steel Cord Pty Ltd, was established in 1986 to supply steel cords and hose wires to tyre and hydraulic hose manufacturers in Australia, New Zealand and South East Asia. Bekaert says these markets will for the immediate future be supplied with products sourced from factories in North and South East Asia.

24th August 2007/by Tyrepress Editors

ArvinMeritor and Chery Form China Joint Venture

(Akron/Tire Review) ArvinMeritor and Chinese carmaker Chery have entered into a joint venture partnership to design and manufacture chassis systems and components. The new joint venture, ArvinMeritor Chassis Systems Wuhu Co., will become a $150-million full-systems chassis supplier by 2010. Production of shocks and struts will begin as early as 2008.

According to Rakesh Sachdev, president of ArvinMeritor’s Asia Pacific operation, the new chassis systems joint venture plant in Wuhu will be one of several China-based facilities ArvinMeritor will add to its network over the next 18 months in support of new business with customers in the region.

“ArvinMeritor’s alliance with Chery is a great example of the company attaining strategic growth from three key focus areas; increasing business with Asian customers, expanding in emerging markets and growing our light vehicle chassis business,” said Phil Martens, president of ArvinMeritor’s Light Vehicle Systems business group. “This new business, which is quickly ramping up, comes on the heels of several other new Chery contracts with ArvinMeritor for its door systems technologies.”

27th July 2007/by Tyrepress Editors