Thai belt plant slated
DENVER-Gates Rubber Co. and the Nitta Corp. are planning to open a power transmission factory in Thailand, according to a Jan. 30 statement.
Gates Unitta Thailand Co. will be jointly owned by Gates and Nitta and operated by their Asian joint venture company, Gates Nitta Asia Pacific Co.
The plant will produce a range of synchronous, micro-V, V-belt and related power transmission products. Production will start in February 2003.
Titan ruling to wait
PITTSBURGH-The Pennsylvania Securities Commission conducted a Jan. 14 hearing on a complaint that tire and wheel manufacturer Titan International Inc. broke state law when it attempted to gain control of specialty tire maker Polymer Enterprises Inc. in 1998 and 1999.
A decision stemming from the hearing, however, isn't expected until later this summer, said Tom Schultz, Polymer vice president of administration. The hearing looked into allegations that Titan illegally contacted and misled stockholders in attempts to buy shares from them.