joint venture Archives - Page 15 of 24 - Tyrepress

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Phillips Carbon Black plans Vietnam JV

Phillips Carbon Black Ltd reported on July 4 that it has signed an initial pact with the Vietnam National Chemical Corp to conduct a study into the feasibility of a joint venture facility in Vietnam. If such an arrangement proves viable Phillips Carbon Black say they will hold a majority stake in the new company. Company chairman Sanjiv Goenka has stated that a joint venture with Vietnam National Chemical would require an investment of around £30.6 million.

5th July 2007/by Tyrepress Editors

Credential to Upgrade Shredding Facility

In order to be ready for the upcoming opening of its £4.1 million cryogenic plant in South Wales, Yorkshire’s Credential Environmental has begun to upgrade its Breighton, North Yorkshire shredding facility. This site, along with the company’s facility in the West Midlands town of Wednesbury, will process scrap tyres into a format that allows them to be frozen with liquid nitrogen and crumbed at the new plant, and Credential wishes to ensure that no bottlenecks will occur in the entire process.

To ensure the shredding plants can keep up with the cryogenic plant’s 30,000 tonne per year capacity, Credential Environmental will spend £400,000 boosting capacity of the Breighton facility, which last year processed 15 million tyres and will be the main site the company uses for supplying the new plant. A major component of this upgrade includes the installation of two new £150,000 tyre shredding rotors, manufactured by Columbus McKinnon. Improvement to the plant’s infrastructure, including the building of new walkways and firebreaks, has also been planned.

19th June 2007/by Tyrepress Editors

Credential to Upgrade Shredding Facility

In order to be ready for the upcoming opening of its £4.1 million cryogenic plant in South Wales, Yorkshire’s Credential Environmental has begun to upgrade its Breighton, North Yorkshire shredding facility. This site, along with the company’s facility in the West Midlands town of Wednesbury, will process scrap tyres into a format that allows them to be frozen with liquid nitrogen and crumbed at the new plant, and Credential wishes to ensure that no bottlenecks will occur in the entire process.

To have the shredding plants keep pace with the cryogenic plant’s 30,000 tonne per year capacity, Credential Environmental will spend £400,000 boosting capacity of the Breighton facility, which last year processed 15 million tyres and will be the main site the company uses for supplying the new plant. A major component of this upgrade includes the installation of two new £150,000 tyre shredding rotors, manufactured by Columbus McKinnon. Improvement to the plant’s infrastructure, including the building of new walkways and firebreaks, has also been planned.

18th June 2007/by Tyrepress Editors

Joint Managing Directors Step Down from SMC

SMC Automotive GmbH, a part of the Malaysian BSA group has announced that Richard Kok Kee Cheong, Malaysia and Rolf Bene, Germany are “no longer Managing Directors of the company.” Bene resigned from his position last week. The pair had been in charge since the beginning of the joint venture operation with BSA.

SMC had been struggling with manufacturer quality problems in 2006. Bene, who will stay on at the company as sales and marketing director said he hopes the new structure will create again “the unlimited support by the mother company, linked with the comeback to a successful operation for the next years.”

15th June 2007/by Tyrepress Editors

Stapleton’s Owner to Enter Car Making Business

The owner of UK tyre wholesaler Stapleton’s Tyre Services, Itochu Corporation, is reportedly entering into a joint venture with carmaker Suzuki to build a factory in Russia in order to capitalise on the country’s rapidly growing market. The Japanese newspaper Nikkei has claimed that Itochu and Suzuki would be equal owners of the joint venture facility, and would spend a combined 15 billion yen (£62 million) constructing the St Petersburg plant.

The factory will commence operation in 2009 and initially produce 10,000 vehicles based upon the Suzuki Grand Vitara using CKD components from Japan.

8th June 2007/by Tyrepress Editors

Wabco and TVS Group Agree to Brakes Business Demerger

Wabco, a leading provider of vehicle electronic systems to the global commercial vehicle industry, and India’s TVS Group, who amongst other things produce and distribute automotive components and hardware, have announced their intention of transferring the brakes business of their Indian joint venture Sundaram Clayton Ltd (SCL) to a new wholly-owned subsidiary, WABCO-TVS (INDIA) Ltd., (WABCO-TVS) through a demerger plan.

The demerger of the brakes activity will result in two separate corporate entities. The non-brakes business and investments will remain with SCL, who are based in the Indian city of Chennai. The demerger plan is conditional upon securing the approval of the relevant stock exchanges, shareholders, creditors and the Madras High Court.

15th May 2007/by Tyrepress Editors

US Court Approves Solutia’s Acquisition of Flexsys

Approval has been granted for Solutia Inc.’s agreement to acquire chemical firm Akzo Nobel NV’s share in Flexsys as well as its Japanese Crystex business. The US Bankruptcy Court for the Southern District of New York granted its consent to the transaction on April 11. The court’s consent was required as Solutia is emerging from Chapter 11 bankruptcy, which it filed for in 2003.

Flexsys, headquartered in Brussels, is a 50/50 rubber chemicals joint venture between Akzo Nobel and Solutia, formed in 1995. According to Solutia, Flexsys reported 2005 sales of about US$600 million and employs more than 1,000 people worldwide. Crystex is a Flexsys product, but produced by a separate Japan-based entity.

17th April 2007/by Tyrepress Editors

Sibur-Russian Indicate Willingness to Work with Conti

Sibur Russian Tyres has announced their readiness to work in cooperation with Continental in the area of the joint venture company Matador Omskshina. The Russian-Slovakian 50/50 joint venture Matador Omskshina was established in 1995 by Sibur Russian Tyres and Matador to produce passenger car tyres under the Cordiant and Matador brands. Output trebled to 2.7 million units in 2006, and it is anticipated that by 2009 this figure will reach 4 million.

Following Continental’s 51 per cent acquisition in Matador it became a co-owner of the aforementioned joint venture, creating a vehicle through which mutual cooperation with Sibur-Russian can be conducted. At present the German tyremaker has not discussed what form such cooperation, if any, would take.

17th April 2007/by Tyrepress Editors

Watts Tyres Establishes Joint Venture with Bulgarian Partner

International News, Product News

Gloucestershire based Watts Tyres has entered into a joint venture agreement with Bulgarian rim and wheel manufacturer Balkancar Zarya. The two firms have established the joint venture company “Watts Zarya Limited,” which will concentrate on providing industrial wheel and tyre products to the materials handling OEM market via a just-in-time delivery system.

According to Jean-Paul Mindermann, chief executive for Watts Tyres Plc, “the new joint venture is a cornerstone of our strategy to be the leading wheel and tyre provider to the materials handling industry.” He added “Balkancar Zarya is an excellent partner with high quality wheels to complement our tyres and existing wheel business. With Bulgaria recently joining the EU, the timing and location is perfect to offer OEM’s the high quality and competitive solution that they are searching for.“

22nd March 2007/by Tyrepress Editors

Conti Misses Mark in China Sales

(Akron/Tire Review) Continental AG fell short of its stated 2006 sales goal in China, posting 230 million euro in sales, according to China Business News. Conti had established a goal of 350 million to 400 million euro in sales of its automotive systems products.

The sales figures do not reflect products made in China and exported, the report said.

Conti has a 50/50 joint venture with Shanghai Automotive Industry Corp., and has announced plans to build two technology centres in China this year.

21st March 2007/by Tyrepress Editors

Pirelli Partner Undecided about Olimpia

Following recent news that Pirelli & C. SpA is contemplating selling its entire stake in Olimpia, its partner in the joint venture company, Edizione Holding Spa, has announced it has not ruled retaining its stake in the company even if Pirelli pulls out. Edizione, a holding company owned by the Benetton family, owns a 20 per cent share in Olimpia, with the remainder in Pirelli’s hands.

“We have a pact with Pirelli and in case of sale we have to sell along with Pirelli.” said Edizione shareholder Gilberto Benetton. “But unlike Pirelli, we are willing to assess other projects; it depends on who buys Pirelli’s stake. We are not running away,” he added. Pirelli has announced that, on March 12, it gave a mandate to chairman Marco Tronchetti Provera to sell its stake in Olimpia.

14th March 2007/by Tyrepress Editors

Sales Up, But Cooper Still Posts Larger Loss

(Akron/Tire Review) Despite seeing positive returns from its new operations in China, Cooper Tire & Rubber Co. still posted a large loss for fiscal year 2006. The company reported full-year sales of $2.7 billion, up 24% from the year prior, but a net loss of $79 million, compared to a 2005 net loss of just $9 million.

1st March 2007/by Tyrepress Editors

Partnership to Fuel Cement Industry

The scrap tyre companies Sapphire Energy Recovery and Saltire Recovery have entered into a major contract with tyre wholesaler and retailer Stapleton’s Tyre Services. The three-year contract, that commenced at the end of 2006, will see Sapphire and Saltire potentially receive more than a million worn out tyres a year.

20th February 2007/by Tyrepress Editors

Tyre Recovery Association Elects Two New Officers

The UK’s Tyre Recovery Association has elected both a new President and a new Vice President / Treasurer each to serve two year terms. The Association’s new president for 2007/08 leading industry figure Tim Stott, general manager of Sapphire Energy Recovery Ltd, the Lafarge/Michelin joint venture. Tim replaces Roger Hicks, managing director of Charles Lawrence International Ltd and the TRA’s first ever President, who also served a two year term.

14th February 2007/by Tyrepress Editors

EnTire to Supply TPM to Toyota in US

EnTire Solutions has been named as the Tyre Pressure Monitoring (TPM) supplier for Toyota’s 2007 model Sienna. The joint venture company formed by Michelin and TRW Automotive launched its first OE TPM system in 2004 on the US market Acura MDX, and currently also supplies TPM systems to Honda, Hyundai, Fiat and Kia.

20th December 2006/by Tyrepress Editors