Tag: Serbia
Football: Linglong Tire sponsoring Serbian SuperLiga
During a ceremony held on 30 March to mark the start of work on its new tyre plant in Serbia, Linglong Tire announced its sponsorship of the country’s top football league, the Serbian SuperLiga. The signing of an agreement between the two parties was witnessed by Goran Knezevic, Serbia’s Minister of Economy, Sinisa Mali, Minister of Finance, Vanja Udovicic, director of Serbian Sports and Youth, Lazovic Dragomir, president of Serbian SuperLiga, Wang Feng, chairman of Linglong Tire, and other guests.
Linglong Tire begins Serbia factory project
A ceremony has taken place to mark the start of work on Linglong Tire’s new tyre factory in Serbia. Company chairman and chief executive officer Wang Feng greeted guests at the site of the future plant on 29 and 30 March to launch the new subsidiary, Linglong International Europe D.O.O. Zrenjanin (LLIE), and to hold the tyre maker’s global partner conference.
Linglong Tire to officially start Serbia plant project
The City of Zrenjanin in Serbia reports that Linglong Tire will lay a symbolic foundation stone on 30 March to mark the start of construction work on its new tyre factory. The ceremony will be attended by China’s ambassador to Serbia as well as national and local officials.
Linglong holds business investment talks with EBRD
Talks were held last week between Linglong Tire and the European Bank for Reconstruction and Development (EBRD). Linglong Tire chairman Wang Feng met with key EBRD representatives, including Jurgen Rigterink, first vice-president, Betsy Nelson, vice-president and chief risk officer, and Jean-Marc Peterschmitt, managing director of industry, commerce and agribusiness, in London on 16 October to discuss cooperation on the construction of Linglong’s tyre plant in Serbia.
New factory: Linglong Tire signs investment agreement with Serbia
Shandong Linglong Tire’s plans to set up a tyre factory in Serbia gained a further boost on 17 September with the finalisation of an investment framework agreement with the country’s Ministry of Finance. The document was signed by Linglong chairman Wang Feng and Siniša Mali, Serbia’s Minister of Finance, at a ceremony in Beijing also attended by Aleksandar Vučić, President of Serbia.
Linglong to supply VW, Renault from Serbia plant
Shandong Linglong will ship original equipment tyres to Volkswagen and Renault from its planned factory in Serbia. This is the news shared by Serbia’s president, Aleksandar Vučić on his website today. Vučić writes that Wang Feng shared news that the factory would supply the two vehicle manufacturers once production begins in 2020.
Linglong Tire confirms Serbia factory plans
Several days after its Board of Directors approved plans to build a factory in Serbia, Shandong Linglong Tire Co., Ltd. signed an investment memorandum with regional and national officials. Company chairman and president Wang Feng signed the agreement together with Goran Knežević, Serbia’s Minister of Economy, at a ceremony held in Zrenjanin, Serbia on 23 August. Aleksandar Vučić, president of Serbia, and Li Manchang, China’s ambassador to the country, also attended the ceremony.
Linglong Tire greenlights Serbia factory project
Under Linglong Tire’s ‘5+3’ strategy, the company aims to establish three tyre factories around the world in addition to five facilities in China. The tyre maker’s first international plant was inaugurated in Thailand in 2014, and yesterday Linglong Tire announced its Board of Directors’ approval of plans to build a second in Serbia. Construction of a new facility 30 miles north of Belgrade is expected to commence in the first half of next year and ultimately give Linglong Tire an annual capacity of 13.62 million tyres in Europe. The project involves an investment of US$994.39 million.
Linglong Serbia plant talks continue
On 23 June Serbian president Aleksandar Vučić’s inauguration ceremony was held in Belgrade. Wang Feng, chairman and president of Linglong Tire, was invited to attend the inauguration ceremony in a move that suggests communications relating to Linglong’s proposed investment in a European tyre manufacturing plant are still open.
Trelleborg investing in Serbian tyre plant
In its year-end 2016 report, Sweden’s Trelleborg AB states that its Board of Directors has “decided to make a major investment” in Trelleborg Wheel Systems’ tyre operation in Serbia in order to improve the facility’s footprint and increase production capacity to accommodate additional future sales.
Serbian government seeks new Trayal owner
In December 2013, the Republic of Serbia’s Privatization Agency decided to terminate its sale agreement covering a number of assets from state-owned company Trayal Corporation as the buyer, Bulgarian power company Brikel EAD, was deemed to have failed to fulfil its contractual obligations. Trayal was sold to Brikel in late 2006.
Cooper Tire targeting ‘profitable growth’ in UK, Germany – and Eastern Europe
The United Kingdom is already the European market where Cooper Tire & Rubber is best-represented, however the tyre maker sees further potential to expand its market share. Speaking at the Bank of America Merrill Lynch 2014 Leveraged Finance Conference on 3 December, Cooper Tire & Rubber treasurer Tom Lause conveyed the company’s aim to grow in both developed and emerging European markets, and singled out the UK and Germany as areas of particular focus.
Serbia open for business
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
Michelin opens second Tigar Tyres plant, says more entry-level investment possible
The second Tigar Tyres plant in Pirot, Serbia is now open. An official inauguration was held at the facility on 9 October, and this culminated in Serbian President Tomislav Nikolic and Jean-Dominique Senard, CEO of parent company the Michelin Group, signing the first tyre to roll off the production line. The inauguration marked the completion of the first part of two-phase project. Investment has so far reached €215 million, and the 56,000 square metre facility will be capable of producing between 8 million and 12 million tyres in its phase one incarnation. Some 500 people will be employed at the new plant, increasing the Tigar workforce to around 2,600 to 2,700.
Tatko and Vipal Rubber celebrate a successful partnership
Vipal Rubber clients have held a joint event with Turkish distributor Tatko in Serbia to celebrate recent sales successes in the region. Tatko is responsible for distributing Vipal and Ruzi products in Turkey, Ukraine and other countries in Central Asia, and the Belgrade event reflects Vipal’s emphasis on its partner relationships, the Brazilian retreading company states.