AKRON—Mesnac Co. Ltd. is breaking into a new market via an acquisition and expanding its capabilities in Europe, while naming a leader for its Akron Technical Center.
The tire machinery supplier acquired Fushun Yikesi New Material Co. Ltd., a Chinese producer of synthetic rubber and resin products, and will expand its Mesnac European Research and Technical Center in Trencin, Slovakia, by 32,000 square feet.
And in North America, the firm appointed K. Mohamed Hassan as the executive director of its research and technical center in Akron.
Mesnac said it spent $60 million to acquire Fushun, whose product line includes refined petroleum C5 resin, piperylene, dicyclopentadiene and isoprene derivatives. It operates one facility in Fushun City, China, and produces about 400,000 tons of synthetic rubber per year, Mesnac Group CEO Zheng Jiangjia said at the International Tire Exhibition & Conference in Akron. The acquisition marks Mesnac's entry into the rubber raw materials side of the industry. The firm is one of the world's largest suppliers of tire manufacturing equipment.
“Mesnac wants to be a global equipment supplier,” Jiangjia said. “If we don't know the product or the raw material, it is very difficult to be the top level manufacturer. Today more and more customers ask us to provide high precision and high technology equipment to meet their requirements for their new products. It is very good for us if we know the raw material so we can change the design or develop new ideas within equipment manufacturing.”
Jiangjia said Mesnac's customers want it to perform testing of both the equipment and the raw material. The executive believes that future technology and technology demands will make synthetic rubber a more attractive option.
The acquisition puts Mesnac in position to offer customers both equipment and raw materials.
“We're trying to use integration between the material and the equipment,” Hassan said. “Mesnac is trying to provide a complete solution for the customer, to provide equipment, material and best conditions to process this material at the same time.”