Kobe Steel Ltd. (TYO:5406) has acquired L&T Kobelco Machinery Pvt. Ltd. (LKTM) as a wholly owned subsidiary. Previously operated as a JV between Kobe Steel and Larsen & Toubro Ltd., the Indian-based firm designs, manufactures and sells a range of tire and rubber machinery, including rubber mixers and twin-screw extruders. By turning LKTM into a wholly owned subsidiary, Kobe Steel...
Sumitomo Rubber Industries Ltd. (TYO:5110) has issued an announcement concerning the impact on its products as a result of the falsification of data by Kobe Steel Ltd. (TYO:5406). Sumitomo Rubber said that it does not purchase any parts directly from Kobe Steel, but it has discovered that the steel cord and bead wire used in its tires contain material from...
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