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Kraton on 30 October 2019 announced that it has agreed to sell its Cariflex isoprene rubber latex business unit to Daelim Industrial Co., Ltd. for a purchase price of USD 530 million. The transaction is expected to close in Q1/2020. Cariflex contributed USD 50.5 million of pro forma Adjusted EBITDA for the fiscal year ended 31 December 2018.

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Bangladesh is on the verge of becoming a saturated market in tyre manufacturing by next year with the inclusion of some local and foreign conglomerates in the business.

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Honeywell on 12 November 2019 announced that Kuwait Integrated Petroleum Industries Company (KIPIC) has selected Honeywell Process Solutions (HPS) to be the main automation contractor for its new Petrochemicals and Refinery Integration Al Zour Project (PRIZe).

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The Sino-Pak Tire Manufacturing Joint Venture is “an import substitution opportunity” that seeks to leverage Pakistan’s locational advantage as well as growing market for vehicle tyres, said Dr Xu Peng, Managing Director of InvestTarget — the investment bank and private equity fund which is the largest investor in the consortium. The company will aim to produce five to six million pieces every year, 2-3 million of which will be for trucks and buses and 3-4 million for passenger cars. “We will start with the trucks and buses segment,” Peng says, “because nobody is producing these in Pakistan and there is growing demand.”

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The UK’s Dunlop Aircraft Tyres plans to build a factory in Karawang, Indonesia’s West Java province, with total investment of IDR 1 trillion (USD 70.92 million). In his latest announcement, Minister of Industry Agus Gumiwang Kartasasmita said the UK manufacturer will partner local firm PT Rubberman Indonesia to develop and construct the plant, which is projected to become operational within the next 18 months.

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The board of SRF Ltd. has approved setting up a new biaxially oriented polypropylene (BOPP) film line in Thailand by its wholly-owned SRF Industries (Thailand) subsidiary, the company said in a notice to the stock exchange. The project will require an investment of USD 50 million. No other details were given.

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