News from Notch Consulting, Inc.

June 4, 2009

Hankook Tire Introduces Fuel Efficient Tire Line in Australia

Filed under: General, Silica, Tires — Notch @ 11:30 pm

Hankook Tire has launched its enfren line of low rolling-resistance tires to the Australian market, the first market outside Korea to receive the new enfren technology The local release of the Hankook enfren tire range reiterates the growing importance of the Australian market to Hankook Tire.

Developed under Hankook’s new Kontrol Technology program, the efren range of low rolling-resistance tires combines a number of technologies to help improve fuel economy by as much as five per cent, resulting in a reduction of CO2 emissions.

Tire Companies Among GM’s Largest Creditors

Filed under: General, Tires — Notch @ 1:06 pm

Tire Business is reporting (subscription required) that tire companies Continental A.G., Goodyear and Bridgestone Corp. are among General Motors Corp.’s 50 largest creditors. The three companies are collectively owed nearly $27 million, according to court documents. GM filed for Chapter 11 bankruptcy protection June 1, showing $172.8 billion in debts and $82.3 billion in assets.

Phillips Carbon Black Defers Vietnam Project

Filed under: Carbon Black — Notch @ 12:30 pm

According to an article at DNA, an Indian news site, Phillips Carbon Black has decided to defer a project to build a 55,000 tonnes per year carbon black plant along with a 16 megawatt power plant in Vietnam. The $46 million project is a joint venture between Phillips Carbon Black and Vietnam National Chemical Corporation (Vinachem). According to the article, the project was put on hold because of the economic slowdown.

The blog has previously reported on the Vietnam plant here, here, and here.

Under the original schedule, the plant would have come on-stream around mid-2010. It would be PCBL’s first carbon black plant outside India.

According to sources, the site for the Vietnam project has been identified and a token amount for land remitted.

Sources said that the final payment is to be released after financial closure, but this has been deferred until the global liquidity scenario looks up. However, the environment impact assessment study (EIA) has commenced, and commercial production is expected to start within 18 months of the financial closure.

PCBL’s new greenfield carbon black project at Mundra, India is proceeding on schedule, and is due on-stream during the second quarter of FY 2009/10 (i.e., third quarter 2009). The project includes a 90 KTPY carbon black plant and a 16 MW cogen plant. The structural and civil work on the project has been completed.

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