Tyrexpo Asia 2024 expects 150 exhibitors and 250 tyre brands
TyreXpo Asia Bangkok 2024 is inviting the industry to engage with “over 150 exhibitors and 250 tyre brands” when it takes place at BITEC Hall 98, Bangkok om Thailand from 15 – 17 May 2024.
TyreXpo Asia Bangkok 2024 is inviting the industry to engage with “over 150 exhibitors and 250 tyre brands” when it takes place at BITEC Hall 98, Bangkok om Thailand from 15 – 17 May 2024.
Prinx Chengshan Holdings Limited has released its financial results for the twelve-month period ending on 31 December 2023, referring to these as “the best results” in the company’s history. Operating revenue increased to RMB 9,950 million (£1.09 billion), marking a 22% year-on-year rise, while net profit surged to RMB 1,030 million (£113.32 million), a 162.4% increase compared to the previous year. Earnings per share reached RMB 1.62, up by 161.3% year-on-year, and EBITDA rose to RMB 1,710 million (£118.14 million), reflecting a 102.4% increase year-on-year.
The Fortune brand is a relative newcomer in the UK commercial vehicle tyre market, but behind the range is one of China’s largest and fastest-growing tyre makers. Prinx Chengshan produces the entire Fortune truck tyre line-up in a state-of-the-art facility in Chonburi, Thailand, and recently invited distribution partners from the UK and Europe to see the technology behind this Industry 4.0 plant for themselves. This visit also served as an opportunity to forge stronger business ties as well as to present the latest products within the Fortune portfolio.
Linglong Tire is relocating the production of truck tyres for the European market to its newly inaugurated factory in Serbia from their previous production base in China and Thailand, Tyrepress sister website Reifenpresse reports. According to the Chinese manufacturer, the Serbia plant is “one of the most modern tyre factories in the world.” With four new tyre series and a total of 47 new products or product sizes, the product range includes truck tyres for all purposes, all of which were “developed specifically for the European market.” Serbian president Aleksandar Vučić told Chinese media that Linglong could become the country’s “fifth or sixth-largest exporter” thanks to the new plant.
The Rubber Authority of Thailand (RAOT) is supporting the upcoming TyreXpo Bangkok 2024 that is scheduled to be held on 15-17 May 2024 at BITEC, Bangkok, Thailand. As a leading government authority for the rubber industry in Thailand, RAOT aims to further promote the development and sustainability of the rubber sector in Thailand and beyond.
The rapid growth of a manufacturing base largely across Asia has seen a swift evolution in the source of truck tyre imports in the European Union and UK. A new analysis conducted by leading tyre market analyst Astutus Research for Tyres & Accessories shows that Thailand has soared into a leading position in this segment, accounting for 26.3 per cent of truck tyre imports in 2023. Turkey (20.6 per cent) and more recently Vietnam (15.0 per cent) have also overtaken the previously dominant China (14.5 per cent) as leading sources of truck tyres in Europe (defined as the EU27 plus UK).
Brembo is set to open its first production site in Thailand having agreed to invest 40 million euros in the factory as part of the company’s strategy expanding its industrial presence globally.
Four months before TyreXpo Asia 2024 opens in a new location in Thailand at the Bangkok International Trade & Exhibition Centre (BITEC) running from 15 to 17 May, the show’s organisers are confident the event will attract 120 exhibitors and 4000 attendees from around 60 countries.
The United States Department of Commerce has released the results of its anti-dumping review of imported passenger car and light truck tyres (PCR) made in Thailand. The result of the re-examination investigation is consistent with the preliminary one and its good news for Thai tyre manufacturing plants. The release of the result also means PCR products produced in Thailand are expected to enter the United States market in large quantities soon.
Birla Carbon has announced new greenfield projects in India and Thailand. The facilities will be respectively located in Niadupet, Andhra Pradesh and Rayong and each will have an initial capacity of 120 kMT when they become operational in 2025. Birla Carbon will develop the sites with an eye to expanding both to 240 kMT in the future.
Yokohama held a seminar alongside the Surat Thani branch of the Rubber Authority of Thailand (RAOT) in December 2023 to help Thai natural rubber farmers improve the quality and productivity of their natural rubber. 70 farm households in the Surat Thani area participated in the event. Each participating household received a complimentary 250kg of fertiliser developed with RAOT’s specialist knowledge. The seminar is the sixth held by Yokohama Rubber and RAOT since 2020.
The U.S. Department of Commerce is investigating imports of truck and bus tyres from Thailand after the United States International Trade Commission determined that the domestic tyre industry is materially injured by tyre imports sold in the USA at “less than fair value.” The Department of Commerce’s preliminary antidumping duty determination is due on or about 25 March 2024.
VMI has officially opened its new Southeast Asian service centre in Chonburi, Thailand. The machinery manufacturer says the move from smaller premises to the high-tech facility reflects its “commitment to support the industry in this increasingly important region.” The new service centre will serve the growing needs of VMI customers in the entire Southeast Asian region.
Tarsus Group announced that it was planning the first Tyrexpo Asia in Thailand in 2022 back in 2020. Now the company report that momentum is building for Tyrexpo Asia 2024 in Bangkok, which runs from 15-17 May at the BITEC venue.
Bridgestone Corporation completed the consolidation of its tyre manufacturing operation in Thailand today with the end of truck and bus radial production at its Rangsit plant. Bridgestone Tire Manufacturing (Thailand) Co. Ltd’s Chonburi facility has taken over this production capacity.
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