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ZC Rubber offers IPO update, Thailand factory supports profit in 1H 2022

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ZC Rubber

Hangzhou Zhongce Rubber Co. Ltd (ZC Rubber) recently issued an update on the progress of its initial public offering (IPO). According to the data, Zhongce Haichao (a company established by four local Hangzhou enterprises in 2019 in order to invest in ZC Rubber, namely Hangzhou Great Star Industrial Co., Ltd., Hangcha Group Co., Ltd., Juxing United Holding Group Co., Ltd., and Hangzhou Haichao Enterprise Management Partnership (Limited Partnership) holds 41.08 per cent of the tyre manufacturer’s shares and is the company’s controlling shareholder. Qiu Jianping and his daughter Qiu Fei hold 46.95 per cent of the shares and corresponding voting rights of ZC Rubber through Zhongce Haichao and several other companies and therefore control ZC Rubber.

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  1. ZC Rubber’s Thailand factory in production
  2. Jiangsu General investing US$300 million in Thailand tyre plant
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  4. ZC Rubber preparing for IPO
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Thailand tyre plant receives Bridgestone’s largest solar facility

Solar rooftop panels installed upon Bridgestone’s Nong Khae plant in Thailand’s Saraburi province will directly power the tyre production process. The equipment installed at the Thai Bridgestone Co., Ltd., facility is the largest solar rooftop panel in use across the Bridgestone Group and has a total capacity of 9.95 MWp.

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  1. Better late than never: Bridgestone opens Thailand OTR plant
  2. Solar power aiding Bridgestone’s truck tyre production in Thailand
  3. Higashi named chairman of Bridgestone Asia Pacific
  4. Bridgestone closing Hong Kong aircraft tyre plant
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B-Quik hits 220 store target with Thai and Indonesia tyre centre openings

B-Quik

On Friday 25 November 25, 2022 B-Quik hit a benchmark number of tyre retail centres, with the opening and open store #200 in Thailand. According to the company, the latest opening will be followed by stores 201, 202 and 203 in the next week. To the pace of growth into perspective, at the start of the pandemic, B-Quik had 148 stores in Thailand. Moving forward, the expansion plans look set to continue with company representatives said: “we are ready for the next growth spurt”.

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  1. B-Quik tyre retail branch count rises to 180
  2. B-Quik hits 200 store target in 2021
  3. Marubeni re-brands Indonesian tyre retail chain as B-Quik
  4. B-Quik branch number 196 set to open
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£200m Xingda Thailand factory phase II confirmed

Xingda Steel Tyre Cord

On October 3, the Thailand factory of Jiangsu Xingda Steel Tyre Cord Co and Rojana Industrial Park Public Co held a land signing ceremony. It is reported that after seven months of planning, site selection and communication, the steel tyre cord factory finally decided to place Phase II in the Bowin Industrial Park in Chonburi Province, managed by Rojana.

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  1. Firms from six countries represented in Pirelli’s 2017 supplier awards
  2. Phase 2 of Yokohama’s ‘Forever Forest’ Completed in Thailand
  3. Thailand woos global tyre manufacturers
  4. Xingda investing £200 million expanding Thailand tyre cord factory
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Huayi’s tyre turnover totalled 4.968 billion yuan

On 30 August 2022, Shanghai Huayi, the parent company of Double Coin Tire Group first half results showing the company generated revenue of 4.968 billion yuan (about £614 million, 719 million euros), and operating costs were 4.559 billion yuan (about £564 million, 660 million euros). Within that, the revenue of all-steel radial tyres and semi-steel radial tyres was 4.6 billion yuan (about £569 million, 666 million euros) and 368 million yuan (roughly £45.51 million, 53.25 million euros).

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  1. Jiangsu General investing US$300 million in Thailand tyre plant
  2. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  3. China’s GS Tire raises Cambodia investment to $300 million
  4. Guizhou Tyre reports increased production and sales
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Xingda investing £200 million expanding Thailand tyre cord factory

Xingda

At the end of July, Chinese tyre cord manufacturer Xingda announced that it is investing 1.6 billion yuan (£200 million; 232.432 million euros; $237 million) adding 200,000 tons of steel cord annual production capacity to its Thailand factory. The planned construction period is 24 months and the project has been officially approved by China’s National Development and Reform Commission.

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  1. Xingda published first ever sustainability report by a Chinese steel cord maker
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Jiangsu General investing US$300 million in Thailand tyre plant
  4. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
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B-Quik branch number 196 set to open

B-Quik

Staff at B-Quik branch number 196 set to open the growing tyre retailer’s latest branch in Thailand. The Chiang Mai Huaikaeuw location is store number seven in the city of Chiang Mai. Three more openings in Thailand are planned for the next six weeks.

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Related news:

  1. Marubeni re-brands Indonesian tyre retail chain as B-Quik
  2. B-Quik tyre retail branch count rises to 180
  3. B-Quik hits 200 store target in 2021
  4. B-Quik opens four branches in Indonesia
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Bridgestone closing Hong Kong aircraft tyre plant

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Bridgestone Corporation has announced plans to consolidate its aircraft tyre retreading operations in Asia. At the end of June 2023, it will close the Bridgestone Aircraft Tire Company (Asia), Ltd. operation in Hong Kong and transfer production to its Bridgestone Aircraft Tire Manufacturing (Thailand) Co., Ltd. facility in Chonburi, Thailand. The closure of the plant in Hong Kong will affect 102 employees.

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  1. Bridgestone closing 3 Diversified Products plants
  2. Better late than never: Bridgestone opens Thailand OTR plant
  3. Bridgestone – 40% fewer plants by end of 2023?
  4. Bridgestone withdrawing from conveyor belt business
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Tyrexpo Asia anticipating a Singapore ‘sell-out’

Singapore’s resurgence as a travel destination means that Tyrexpo Asia will soon return to its traditional home. Nine months out from the next planned show, organiser Tarsus Southeast Asia reports bookings from more than 100 international visitors, with half the floorspace across the three exhibition halls already occupied.

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  1. Tyrexpo Asia 2021 ‘attracting exhibitor interest’ as countdown to show begins
  2. Tyrexpo Asia moving to Thailand in 2022
  3. TRIB partnering with Tyrexpo Asia – Inter-Sprint & Tyreworld exhibiting
  4. Tyrexpo Asia 2021 on track for November
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Inter-Sprint launches Groundspeed truck tyre brand

Wholesaler Inter-Sprint has added a new truck tyre brand to its portfolio. Manufactured by Sentury Tire in its 4.0 smart factory in Thailand, Groundspeed debuted at The Tire Cologne and is available in a launch range that includes steer, drive and trailer dimensions, 13 SKUs in total.

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  1. Firenza truck and car tyres on-show in Cologne
  2. Nordexx enters OTR tyre segment
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Prinx Chengshan: Profit down 24.7% despite higher revenue in 2021

The difficulties that tyre makers are facing at present were reflected in Prinx Chengshan Holdings Limited’s financial results for 2021. Although company revenue increased 20 per cent year-on-year, a “significant increase in raw material prices and ocean freight rates” dragged gross profit down by approximately 24.7 per cent.

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  1. Prinx Chengshan appoints marketing & communications manager for Europe
  2. Prinx Chengshan to launch “Prinx” brand in Europe by the end of 2017
  3. Prinx Chengshan: Increased profits despite corona
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B-Quik opens tyre centre number 193 in Thailand

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B-Quik

B-Quik opened branch number 193 in Thailand on Friday 25 March 2022 and it is quite a looker. The new Bangkok flagship branch not only features six service bays, but also a café and it is all enclosed in a striking architect-designed structure.

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  1. B-Quik tyre retail branch count rises to 180
  2. Sixth Consecutive Record Year For B-Quik
  3. Low Demand For Cars In Thailand Boosts B-Quik
  4. B-Quik Expands Despite Unrest in Thailand
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Solar power decarbonising Maxion’s production

In markets where green electricity is not readily available from the grid, on-site solar power generation is an important way of bridging the green energy gap. The Maxion Wheels Saraburi plant in central Thailand is the company’s first to use solar energy to decarbonise aluminium wheel production.

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  1. Construction to begin on new Maxion Wheels plant in India
  2. Groundbreaking held for Maxion-Dongfeng aluminium wheel plant
  3. Solar power aiding Bridgestone’s truck tyre production in Thailand
  4. Virtual plant aiding Maxion Wheels’ production efficiency
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Yokohama Rubber NR processing subsidiary supports flooded Thai villages

Yokohama Rubber’s natural rubber processing subsidiary in Thailand supported efforts to aid villagers affected by flooding in the country in December 2021. Y.T. Rubber Co, Ltd (YTRC) provided food packages in the wake of flooding due to heavy rains in the country’s Surat Thani Province, where YTRC is located.

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  1. Sustainable rubber procurement: Yokohama Rubber signs MoU in Thailand
  2. Yokohama Rubber expanding tyre mould capacity in Thailand
  3. Phase 2 of Yokohama’s ‘Forever Forest’ Completed in Thailand
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China’s GS Tire raises Cambodia investment to $300 million

GS Tire

On 11 January 2021 Jiangsu Province Department of Commerce approved Jiangsu General Science Technology Co. Ltd’s (GS Tire) US$300 million investment in a new tyre factory in Cambodia. Company stock market filings had previously described that factory as a $204 million investment, which suggests the scope of the project has increased significantly.

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