Bando Chemical Industries Ltd. (TYO:5195) is moving this year to close and liquidate Bando (Shanghai) Industry Equipment Element Co. Ltd., a group company that carries out conveyor belt production and related production for the Chinese market. However, Bando Chemical still sees the Chinese conveyor belt sector as offering a promising market going forward. The company will therefore look to have...
Continental AG and Chinese hydrogen specialist Censtar H2-Electricity Science & Technology are set to deepen their strategic partnership in the Chinese market. Both companies have now formally agreed to work together on developing dispensing hose solutions for hydrogen refueling stations, with the aim going forward of advancing mobility to help get society closer to carbon neutrality. Safe and efficient hydrogen...
Bridgestone Corp. (TYO:5108) announced on June 15 that it will be selling off all of its shares in Bridgestone (Huizhou) Synthetic Rubber Co. Ltd. (BSRC), a Chinese group company that manufactures and sells synthetic rubber for use in automotive tires. These shares will be sold to LCY Chemical Corp., which runs global operations for materials and chemicals. Located in Huizhou,...
Mitsui Chemicals Inc. (TYO:4183) has posted its results for fiscal 2020. The company recorded 1.21 trillion yen ($11.09 billion) in sales revenue for the year, down 10.2 percent year-on-year; 85.14 billion yen in core operating income, up 17.7 percent; and 57.87 billion yen in net income, up 70.4 percent. This marks a new record high for the company’s core operating...
Okamoto Industries Inc. (TYO:5122) is set to establish a new plant for the production of automotive interior materials in Wuhan, Hubei Province, China. Operated by a new subsidiary named Okamoto Manufacturing Wuhan Co. Ltd., the new plant is set to see construction begin this May and finish in December. The Wuhan plant will give Okamoto a third production base for...
Sumitomo Rubber Industries Ltd. (TYO:5110) has reached a settlement with Timsun Rubber Tire (Weihai) Co. Ltd. by employing the mediation of the Beijing Intellectual Property Court. Sumitomo Rubber had been seeking an injunction against the Chinese tire manufacturer for, among other things, infringing its patent rights, specifically Chinese Patent Number ZL201110212627.X, and design rights, specifically Chinese Design Right Number ZL201130113641.5....
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