Bridgestone to Start Steel Cord Production in China
The Asia Times is reporting that Bridgestone Corp has announced that it will begin production of high-carbon steel cord in China next autumn.
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Bridgestone’s Steel Investment
Product NewsBridgestone, Metalpha USA, is set to expand its production facility in Clarksville, with a $45 million project (£25 million).
Bekaert celebrates its first steel cord plant in India
Product NewsBekaert has officially inaugurated its first steel cord plant Bekaert Industries Pvt Ltd in Pune (India).
Michelin to invest in Romania
Product NewsMichelin is set to make an initial investment of 10 million Euro in a new factory, producing steel cord for tyre reinforcement, situated in Zalau, Romania. The project is expected to take around 10 months to complete. Michelin’s annual turnover in Romania is estimated between 60 and 80 million Euro.
Hyosung to invest 110 million US dollars in China
Product NewsThe Hyosung Corporation has announced that it plans to invest 110 million US dollars in building a steel cord plant with annual production capacity of 33,600 tons in Qingdao, China. The joint venture with the Qingdao administration will be named Hyosung Steel Cord Qingdao.
The company is planning to inject an initial 50 million US dollars by September next year to produce 16,800 tons of steel cord annually. The investment is being driven by the growing demand by Chinese tyre manufacturers and the country’s expanding auto market.
“When the new plant is completed, Hyosung’s steel cord business will expand to make up 7 percent of the global market and 10 percent of the mainland Chinese market,” the company explained.
Pirelli Buys Romanian Steel Cord Manufacturer
NewsIn Romania, the Authority for Privatisation and Management of State Ownership has sold its 69.984 per cent stake in local steel cord manufacturer S.C. Cord S.A. Buzau for a figure of around 10 million Euro. The purchaser was Pirelli.
Japanese Truck Tyre Recall For Michelin
Product NewsIn a precautionary move, Michelin is recalling 55,000 truck tyres manufactured in Italy and sold in Japan between October 1999 and March this year. There have been no accidents but a change in design to the steel cord used in the sidewall has reduced the tyres’ resistance to over-inflation that could lead to rupturing of the sidewall.
Truck Tyre Production Ceases At Burnley
Product NewsMichelin has announced the closure of its truck tyre plant at Burnley and an end of the production of steel cord at Stoke on Trent, with the loss of a total of 732 jobs. The closures are said to be due to the downturn in the US truck market. Burnley is to close in March 2002, steel cord production in September.
Control Of Thailand Joint Venture For Michelin
Product NewsThe Siam cement Group is to reduce its shareholding in the Michelin Siam Group from 50 per cent to 40 in order to concentrate on its core business. The shares will be purchased by Michelin, the other partner in the joint venture, giving it a 60 per cent stake. Michelin Siam has three factories in Thailand, plus a tyre mould making plant and a steel cord factory. The company makes Michelin brand tyres for vehicles from motorcycles to aircraft.
Two Piece Tyre Tested By Goodyear
Product NewsGoodyear is testing a two piece design for off-the-road tyres. The tyre consists of a steel cord casing which is matched to a separate, removable over belt carrying the steel belt, bead and tread package.
