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Yongsheng plans Morocco car tyre factory

Shandong Yongsheng Rubber said it is preparing to build a factory with an annual production capacity of 6 million semi-steel radial tyres in Morocco. The project was filed on 28 May.

According to Chinese media Cheyuan Chezhe, Yongsheng Rubber’s Moroccan factory is expected to start construction within six months and gradually increase its production capacity to 12 million tyres per year. At the same time, Yongsheng Rubber’s second overseas factory is expected to be established in the next three years.

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Morocco plant set to become Sentury’s next growth point

In 2024, Sentury’s revenue reached 8.51 billion yuan (about £880 million; €1.05 billion), an increase of about 670 million yuan compared with the previous year. Compared with revenue, the tyre manufacturer’s net profit increased by about 820 million yuan to 2.19 billion yuan (about £230 million; €270 million). In other words, the absolute value of Sentury’s net profitability is growing faster its revenues.

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Sentury redirects funds to Morocco factory from Spain plant project

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Chinese tyre manufacturer Sentury Tire appears to have abandoned its plans to build a major tyre factory in Spain, redirecting its planned three-digit-million-euro investment there to expand its existing facility in Tangier, Morocco, according to various Arabic language news sources including Al-Oumk. The decision, which was reportedly driven by administrative and environmental permit issues in Spain, is expected to boost the Tangier plant’s production capacity to 12 million tyres annually.

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Related news:

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Sentury and Doublestar forecast 2024 performance

Two tyre manufacturers, Sentury and Doublestar, forecast their earnings in 2024. Overall, Sentury’s net profit has increased significantly, while Doublestar is still in the red. Sentury expects its profit in 2024 to be between 2.1 billion yuan and 2.36 billion yuan, a year-on-year increase of 53.45per cent – 72.45 per cent.

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Hankook introduce Laufenn brand in North Africa

Hankook has launched its Laufenn brand in North Africa, pitching it primarily at commercial vehicle customers and fleets with a video made at transport exhibition given in local languages and distributed via social media. Guy Heywood, vice president of Hankook Europe, introduced the brand, which is already present in European markets, to potential commercial vehicle and fleet customers saying: “we want to offer the [best] tyre option…”.

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Sentury gives international tyre factory update, considers new production projects

On 28 November Sentury answered questions about the current status of its various overseas factories at an investor reception.

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Daye invests in Morocco bead wire and steel cord plant

Shandong Daye, a supplier of raw materials for tyres, has decided to invest 1.485 billion yuan (about £160 million; €190 million) to open a manufacturing centre in Morocco.

The Moroccan factory is planned to be carried out in two phases. The investment amount of the first phase project is 850 million yuan (about £92 million; €110 million), and it is planned to build a production line capable of producing 40,000 bead wires and 40,000 tons of steel cord per year in two years. The project’s first phase is scheduled to start construction in January 2025 and be completed and put into operation in December 2026.

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Sentury Morocco factory starts tyre production

On 30 September 2024, the first 17-inch and 18-inch tyres rolled off the production line at Sentury’s Morocco factory. The tyre manufacturer called this “the official start of production at the Morocco factory”. Qin Long, chairman of Sentury, attended the commissioning ceremony and announced that the first batch of tyre products officially rolled off the production line.

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Morocco branch to facilitate Hankook Tire’s growth in Africa

With the opening of a subsidiary in Morocco, Hankook Tire & Technology aims to expand its presence in the Maghreb and West Africa regions. The tyre maker’s European headquarters has played a key role in setting up the new subsidiary, which Don-yi Jeon will lead as Managing Director.

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First Sentury Morocco factory tyre expected in September

The first tyre produced by Sentury’s Morocco factory may roll off the production line before the end of September, with the manufacturer saying: “The factory infrastructure is close to completion and will soon enter the equipment commissioning stage”.

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Morrocco first – Sentury Tire redirects funds earmarked for Spanish plant

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Sentury Tire has disclosed that it will invest the approximately RMB 2.8 billion (£313 million) it raised to set up a factory in Spain in the construction of its Moroccan plant instead. The motivation behind this decision, says Sentury Tire, is that while the facility in Spain is still in the “approval process” with no clear indication of when this will conclude, the tyre plant in Morrocco is “progressing well” and has a greater need for capital expenditures.

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Sentury’s Morocco tyre plant to start construction in Q1 2024

Sentury officially started construction of its Morocco factory in October 2023 (Photo: Sentury)

Groundworks were visibly underway in October 2023, but construction of the new Sentury factory, the first tyre manufacturing plant in Morocco in more than 25 years, will start in the first quarter of 2024. Indeed, Tyres & Accessories has seen a video depicting Sentury chairman Qin Long on-site in Morocco observing progress with the project.

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Sentury Morocco factory starts construction, annual tyre production capacity increased by 6 million

Sentury officially started construction of its Morocco factory in October 2023 (Photo: Sentury)

On 21 October, Sentury said it had officially started constructing its tyre factory in Morocco. On 25 October, the tyremaker said it would add $193 million to its Morocco plant for 6 million semi-radial tyre production capacity. Sentury classified the additional investment as the second phase of the Moroccan tyre factory project. In other words, the total investment in Sentury’s Morocco factory has become US$490 million. After both projects are put into production, it will be able to produce 12 million semi-steel radial tyres annually.

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Sentury to start Morocco plant construction after Chinese government certification

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Atmar Lens; Pexels

On July 27, Sentury revealed that it expects to commence construction for its Morocco factory soon. Tyrepress China has learned that the general manager of the tyre manufacturer is “in Morocco preparing for the start of the tyre factory”.

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Sentury gives Spain, Morocco and Thailand tyre factory updates

At the end of May, Sentury published details relating to the development of its overseas factories. The tyremaker said data for April and May 2023 showed that its production capacity was temporarily unable to meet orders. Therefore, the company believes there is an urgent need to increase production capacity in order to meet customer demand. According to Sentury’s statement, the overseas tyre traders and retailers they cooperate with include Discount Tire, OAK Tyres, Inter-Sprint, American Omni and Turbo Wholesale.

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