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Mitsubishi takes 20 percent stake in Toyo Tire & Rubber Co.

11/8/2018 - Tokyo, Japan - Mitsubishi Corporation has approved the purchase of an additional stake in Toyo Tire & Rubber Co., Ltd. for 50.9 billion yen via subscription to a private placement of shares, and has entered into a capital alliance agreement with Toyo Tire. The purchase of these additional shares will increase MC’s shareholding in Toyo Tire from 3.05 percent to 20.00 percent. The mobility sector is undergoing a once-in-a-century transformation, including the electrification of automobiles and the onset of automated driving technology and, as the so-called CASE trends advance, major shifts in industrial structures are also becoming more visible. This also has implications for the tire industry, in which the nature of the services demanded and the types of roles executed are changing, not just on the manufacturing side, including the development of fuel-efficient or low environmental impact products that support the shift to electric vehicles (EV) and the improvement of production efficiency utilizing AI and IoT, but on the sales and distribution side, as well. Up until now, Toyo Tire has utilized its individual technology to build a unique product portfolio, including large-diameter tires for SUVs and other large vehicles. On the other hand, MC has a wide array of touching points with various industries, and has accumulated know-hows while building a global network through a wide range of businesses. Through this alliance, MC will expand its cooperative relationship with Toyo Tire, one that has been in the making over a half-century of transactions and joint venture business overseas, to a company-wide partnership. Utilizing its comprehensive capabilities, MC will work closely with Toyo Tire to create a new business model, one that will contribute to increasingToyo Tire’s corporate value through the provision of new services that meet the needs of the digital age and that are in line with revolutions in the mobility sector.

Wednesday, November 14, 2018

Yokohama Rubber revises fiscal projections downward - click to expand

Cooper Tire names two to the board of directors - click to expand

Global release coatings market is forecast with a CAGR of 5.9 percent through 2022 - click to expand

Latexco US announces major western expansion - click to expand

Trinseo reports positive third quarter results - click to expand

Tuesday, November 13, 2018

International Rubber Conference 2019 to be held September 3-5, 2019, in London - click to expand

China imposes anti-dumping nitrile rubber tax on Japan and South Korea - click to expand

Toyoda Gosei invests in Hubei Rock Rubber and Seal Technology Co. - click to expand

Lexus ES to use Dunlop SP Sport Maxx line of tires as original equipment - click to expand

Global latex caulk market forecast to grow at a CAGR of 4.6 percent through 2026 - click to expand

Denka completes construction of Omi Innovation Hub in Japan - click to expand

Monday, November 12, 2018

Tingley Rubber Corporation wins NJ Family Business of the Year Award - click to expand

Global industrial rubber market to be valued at $167.9 billion by 2026 - click to expand

BKT to build tire manufacturing plant in the U.S. - click to expand

Apollo Tyres' chairman decorated with Japan's Order of the Rising Sun - click to expand

Vietnam's rubber export value stable despite decline in latex - click to expand

Friday, November 9, 2018

Global non-pneumatic tire market forecast to grow at a CAGR of 11 percent through 2024 - click to expand

Global tire manufacturers sign initiative to end global deforestation - click to expand

Book of the day - Rubber Molding Principles - click to expand

Nynas celebrates 90th anniversary - click to expand

Goodyear announces price increases up to 4 percent for commercial tires and retreads - click to expand

Thursday, November 8, 2018

Mitsubishi takes 20 percent stake in Toyo Tire & Rubber Co. - click to expand

Federal judge allows lawsuit against Denka-owned chemical plant to go forward - click to expand

Goodyear Auto Service and Just Tires offer free Checks for Vets - click to expand

Global fumed silica sales are likely to surpass 335,000 metric tons in 2018 - click to expand

Capricorn and Particon add €5 million to Black Bear’s growth financing round - click to expand

Wednesday, November 7, 2018

Wabash MPI/Carver inducted into Indiana Manufacturers Hall of Fame - click to expand

Monday, November 7, 2018

MonTech to speak at Michigan Rubber Group and Mid-Atlantic Rubber Group - click to expand

Market Reports

Global release coatings market is forecast with a CAGR of 5.9 percent through 2022 - click to expand

Global latex caulk market forecast to grow at a CAGR of 4.6 percent through 2026 - click to expand

Global industrial rubber market to be valued at $167.9 billion by 2026 - click to expand

Global non-pneumatic tire market forecast to grow at a CAGR of 11% through 2024 - click to expand

Global fumed silica sales are likely to surpass 335,000 MT in 2018 - click to expand

Global waterproof tape market forecast to reach $14 billion by 2024 - click to expand

Global rubber gloves market forecast to reach 4.9 billion by 2026 - click to expand

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