Whether its raw materials, machinery, research and development or the latest manufacturing trends, this tag provides up-to-the-minute insights into the upstream part of the tyre industry.
At the end of 2021, Sentury Tire announced that it is planning to build a half-a-billion-euro tyre factory in the Galicia region of Spain. 10 months down the line, is the Sentury Spain factory still going ahead as planned? The short answer is yes and the project is designed to be powered by wind energy. Tyres & Accessories spoke to Warren Rudman, general manager Sentury Tire (Spain) S.L. in order to find out more.
The China Securities Regulatory Commission reviewed and approved Sailun’s convertible bond public issuance application on 13 September. The tyre company plans to raise about 2 billion yuan (about 250.2 million pounds, 286.3 million euros), mainly for constructing two factories in Vietnam and Cambodia. Sailun said that investing in two overseas factories could further expand its tyre production capacity overseas and increase its manufacturing scale and market share.
Linglong Tire recently answered questions from investors via the interactive platform of the Shanghai Stock Exchange. The answers reveal details related to developments at the company’s Serbian factory and its Chinese aircraft tyre production plant.
The Chinese tyre industry is not optimistic about the future following the first half of 2022, which itself was something of a continuation of the problematic situation experienced in the country in 2021. In short, the overall Chinese tyre industry has experienced severe decline in profits. Shen Jinrong, chairman of ZC Rubber, China’s largest domestic tyre manufacturer and number nine in the world, made the comments during a recent speech at the China Rubber Conference 2022.
Recently, Jiangsu General Science and Technology (Jiangsu General) has revealed a strategic plan to reach five production bases in the next 10 years. Currently, the company has two factories in China and Thailand and has more recently launched projects in Cambodia.
On 31 August, Guizhou Tyre released its semi-annual report. In the year’s first half, Guizhou Tyre produced 3.7005 million tyres, a year-on-year increase of 3.53 per cent, and sold 3.4447 million tyres, a rise of 1.07 per cent. During the same period, the tyre company’s revenue reached 3.949 billion yuan (about £490 million, 570 million euros), an increase of 13.16 per cent, and achieved a net profit of 160 million yuan (about £19.86 million, 23.12 million euros).
Hankook Tire is set to invest US$1.6 billion in the expansion of its Clarksville, Tennessee tyre factory. The investment includes the previously announced Phase 2 expansion, which will increase Hankook’s capacity to produce passenger car and light truck (PC/LT) tyres twofold as well as a Phase 3 expansion, which will enable the company to begin producing truck bus and radial (TBR) tyres in the United States. The company estimates that the addition of the Phase 3 expansion project will create an additional 400 jobs in the Clarksville region, for a total of 1,200 new positions.
On the afternoon of 16 August Cheng Shin announced that production at its Chongqing factory would be suspended between 16 and 23 August to cooperate with the local government’s power policy. It is reported that Changshou District, Chongqing City, where the Cheng Shin factory is located, has experienced continuous high temperatures recently, and the power supply gap has continued to expand. The local government advocates for industrial enterprises to stop production to ensure electricity consumption for residents and ease the pressure on the power supply.
Wanli Tire reports that company representatives have visited overseas factory sites and completed a draft report based on the inspections. Wanli deputy general manager Hu Yongfang announced at the summary meeting for the first half of 2022 that Wanli will strive to complete the establishment of an overseas factory project by the end of 2022.
Toyo Tire’s Serbia car tyre production plant became operational on 27 July 2022. The news is in line with Europe executives’ mid-July comments, which suggested the factory would start making tyres by the end of July. The latest news is that shipments are now beginning to move out and that the company is planning to “preferentially supply the US until the end of this year [2022]” in order to “meet robust demand there”.
Commercial and industrial tyre specialist Promoteon became the first customer of Rockwell Automation’s to take on the company’s Plex QMS system during the last three months. The system will be rolled out across Prometeon’s global operations.
ZC Rubber’s subsidiary in Xindeng Town, Fuyang District, Hangzhou City, is planning to add 2.5 million all-steel radial tyres to its production capacity. ZC Rubber stated that the company plans to build a new production workshop and auxiliary facilities shared by the Xindeng Town plant in the reserved space inside the factory. The total construction investment is expected to be 700 million yuan (about £85.14 million, 102 million euros).
Progress has been made in the relocation of Aeolus’s Qingxu County, Taiyuan City, China tyre factory. Specifically, the Qingxu county government has already determined the factory’s new address. A few days ago, the relevant departments invited a design team to inspect the factory’s new location and discuss the relocation project’s design plan. At present, the design unit is preparing a feasibility proposal.
Narcisa Aciko; Pexels
Xiamen Haicang Ecological Environment Bureau
Sailun
China Rubber Conference 2022
Hankook
Xuda Wang
Wanli Tire
Toyo
Rockwell Automation
ZC Rubber
Aeolus