Hankook Tire Co. opened a global plant yesterday in Lippo Cikarang, Bekasi, West Java. “Today’s commemoration of Indonesia plant opening marks yet another milestone in Hankook Tire’s ongoing growth as a global top-tier tire company. This is also a clear manifestation of our strong will and commitment for further growth together with Indonesia and other emerging economies,” said Mr. Seung Hwa Suh, vice chairman and CEO of Hankook Tire. Hankook’s newest global plant, and its…

PARIS (Sept. 4, 2013) — The European original equipment tire market grew by 4 percent in July, while emerging markets are still growing fast, according to data released by Group Michelin. Positive European and North American passenger car and light truck tire markets were in line with second-quarter trends, Michelin said, with the North American OE market showing 1-percent growth in July. In China, OE figures were up 10 percent, while the replacement market was…

NASHVILLE, Tenn.—It’s been 25 years since Japan’s Bridgestone Corp. purchased Firestone for $2.6 billion, but “acquisition” is a term those in Bridgestone circles don’t like to use. They much prefer the term “merger,” according to Christine Karbowiak, an executive vice president of Bridgestone Americas Inc. who serves as chief administrative officer and chief risk officer of the Nash-ville-based subsidi-ary. The deal to the outside world was seen as an acquisition—an original joint venture proposal was…

Plans to build a natural rubber plantation. Natural rubber producer Halcyon Agri Corporation Limited (Halcyon Agri) announced that it has signed a term sheet for the acquisition of JFL Agro Pte Ltd, a company holding 24,327 acres of 99-year leasehold Sultanate land in Kelantan, Malaysia. The land, of which an estimated 16,061 acres is cultivable, will be developed as a natural rubber plantation. The purchase price for the acquisition, which is subject to certain adjustments,…

The national rubber policy committee yesterday agreed to double its planned subsidy to rubber farmers to 2,520 baht per rai. Chaired by Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong, the panel agreed to raise the per-rai subsidy from 1,260 baht to 2,520 baht. The committee, however, did not approve guaranteeing rubber prices at 90 baht per kilogramme of raw sheet government representatives agreed with farmers’ representatives in Nakhon Si Thannarat on Friday. However, Mr…

YANGON CITY, Myanmar—Myanmar Economic Corp., an enterprise tied to Myanmar’s military complex, has commissioned production at the country’s first tire factory. The plant, under construction in Yangon City since late 2010, will have capacity for radial passenger and truck/bus tires along with other miscellaneous bias tires, inner tubes, liners and bladders, according to Chinese tire machinery manufacturer Qingdao Mesnac Co. Ltd., which provided turnkey engineering assistance for the project. The 1.5 million sq.-ft. plant, operating…

SURAT THANI, Thailand (AP) — More than 12,000 rubber farmers protested and blocked roads Tuesday in Thailand’s south to demand that the government boost declining rubber prices, police said. Farmers from several provinces in the south, where most of Thailand’s rubber plantations are located, were blocking a main highway near an agricultural cooperative office in Surat Thani province, 640 kilometers (400 miles) south of Bangkok, police Maj. Gen. Kiattipong Khaosam-ang said. Demonstrations have spread to…

Hankook Tire Co. said that it is close to announcing specifics on a planned new tire plant in the U.S. At a major international press event yesterday in Seoul, Cho Hyun Shick, CEO or Hankook Tire Worldwide, told Reuters that, “We are in talks with three U.S. states – Tennessee, South Carolina and Georgia – to build a plant and we will decide the final site by the end of this year.” Hankook Tire Worldwide…

A group has locked out the Cooper Tire & Rubber Co.’s management and withheld “certain business and financial information” in protest at the $2.5 billion acquisition of Cooper by India’s Apollo Tyres, according to Market Currents. “Neither the strike nor the plant slowdown are expected to have an effect on the consummation of the merger,” said Cooper, whose shareholders are due to vote on the deal on Sept. 30.

KALUGA, Russia—Continental A.G.’s Russian subsidiary has begun trial production of car and light truck tires at its $320 million plant in Kaluga. The plant, operated by Continental Kaluga L.L.C., is designed to produce 4 million tires a year in its first phase, Conti said, and capacity will quadruple to 16 million units over time. Workers at the factory began trial production in March using components sourced from a Conti plant in Puchov, Slovak Republic. The…