Hangzhou Zhongce largest tyremaker in China
Hangzhou Zhongce Rubber Company (ZC Rubber) was China’s largest tyre maker in 2011, according to figures published by the China Rubber Industry Association (CRIA).
The tyre manufacturer which produces the Westlake brand amongst others reports that ZC Rubber’s sales of US$3.52 billion were up 29.2 per cent over 2010 and were significantly higher than this ranking’s measurement of GITI Tire Co. Ltd. ($2.89 billion) and Triangle Group Co. Ltd. ($2.52 billion).
Furthermore a turnover of $3.52 billion could put ZC Rubber between 10th and 12th position globally, depending on the full year 2011 financial results published by Taiwan’s Maxxis International and South Korea’s Kumho Tire Co.
The next largest makers are Shandong Linglong Rubber Co. Ltd. ($1.7 billion); Aeolus Tyre Co. Ltd. ($1.58 billion); Double Coin Holdings Ltd. ($1.56 billion); Xingyuan Tyre Co. Ltd. ($1.35 billion); Qingdao Doublestar Industrial Co. Ltd. ($1.31 billion); and Guizhou Tyre Co. Ltd. ($1.15 billion).
Jorge Crespo, European general manager for Eskay Tyres, distributor of the brand in the UK and several key European markets, stated: “These results are a strong signal to the tyre market of Westlake’s strength and growth potential and a good reflection of Westlake’s dedication to quality and product development”.
Full details of the top 10 Chinese tyre manufacturers in 2011 by turnover, according to the CRIA, are as follows:
- Hangzhou Zhongce Rubber Co., Ltd.(28.411billion yuan)
- Cheng Shin Rubber Industry Co., Ltd. in Xiamen (22.146 billion yuan)
- Giti Tire (China) Investment Co., Ltd. (19.8 billion yuan)
- Triangle Group Co., Ltd. (17 billion yuan)
- Exquisite Group Co., Ltd. (11 billion yuan)
- Double Coin Holdings Ltd. (10.8 billion yuan)
- Aeolus Tyre Co., Ltd. (10.1 billion yuan)
- Xingyuan Tyre Group Co., Ltd. (10 billion yuan)
- Guizhou Tyre Co., Ltd. (7.5 billion )
- Shengtai Group Co., Ltd. (7.3 billion yuan)
The largest Chinese non-tyre firms in the sector
The largest non-tyre company listed is Jiangsu Xingda Steel Cord Co., Ltd. which ranked 14th with sales of 5.52 billion yuan. Xingda is followed by China Bekaert Steel Cord Co., Ltd. in 15th with sales of 5320 million yuan.
The biggest non-tyre rubber product company is Anhui Zhongding Holding (Group) Co., Ltd. placed in 16th with sales of 5.2 billion yuan.
The largest carbon black supplier is Jiangxi Black Cat Carbon Black Co., Ltd. in 20th with sales of 3.38 billion yuan.
Jiangsu Sinorgchem Technology Co., Ltd. is the largest chemical supplier, ranked in 27th. This firm’s sales totalled 2.561 billion yuan in 2011.