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.
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.
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”.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.