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Sailun bond issuance application approved

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Sailun

The China Securities Regulatory Commission reviewed and approved Sailun’s convertible bond public issuance application on 13 September. The tyre company plans to raise about 2 billion yuan (about 250.2 million pounds, 286.3 million euros), mainly for constructing two factories in Vietnam and Cambodia. Sailun said that investing in two overseas factories could further expand its tyre production capacity overseas and increase its manufacturing scale and market share.

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  1. Jiangsu General raises funds for Cambodia factory
  2. Pirelli and Hixih move closer together
  3. Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue
  4. Sailun: 7 million tyres sold in Europe and counting
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Hämmerling expands its Samson tyre range

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Hammerling

Hämmerling – The Tyre Company GmbH, a tyre wholesaler based in Paderborn, Germany and active throughout Europe, with its own Athos, Talas and Sämm tyre, is expanding its Samson product line-up to include a wide range of truck and bus tyres.

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  1. Vietnam factory: Guizhou Tyre establishes subsidiary
  2. Guizhou Tire begins $350 million construction project on two China factories
  3. Guizhou Tyre reports increased production and sales
  4. Stamford shows Thailand and Vietnam-produced tyres in Cologne
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Guizhou Tyre reports increased production and sales

On 31 August, Guizhou Tyre released its semi-annual report. In the year’s first half, Guizhou Tyre produced 3.7005 million tyres, a year-on-year increase of 3.53 per cent, and sold 3.4447 million tyres, a rise of 1.07 per cent. During the same period, the tyre company’s revenue reached 3.949 billion yuan (about £490 million, 570 million euros), an increase of 13.16 per cent, and achieved a net profit of 160 million yuan (about £19.86 million, 23.12 million euros).

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  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Shandong Yinbao Tyre Group Spreads Its Wings
  3. For Yinbao Tyre, imitation is the highest form of flattery
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Wanli planning to build Vietnam tyre factory

Wanli Tire

Wanli Tire reports that company representatives have visited overseas factory sites and completed a draft report based on the inspections. Wanli deputy general manager Hu Yongfang announced at the summary meeting for the first half of 2022 that Wanli will strive to complete the establishment of an overseas factory project by the end of 2022.

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  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Vietnam Rubber Group to expand tyre and tube production
  3. Jinyu: Further international tyre factories on the agenda
  4. Guizhou Tire Vietnam factory completes first phase
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Guizhou Tyre Vietnam plant officially put into operation

Guizhou Tyre

Guizhou Tyre Vietnam plant’s first-phase project has officially begun operation with an annual output of 1.2 million all-steel radial tyres. This equates to between 2500 and 2800 units and the products are mainly sold to the United States, Europe and other regions that have implemented anti-dumping and anti-subsidy investigations on Chinese tyres or imposed special tariffs. The tyre maker said that the first-phase project’s production and sales are still in the ramp-up stage.

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  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Guizhou/Advance Tyre release further Vietnam factory plans
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EcoPoint3 arrives in Maxam solid tyre range

Maxam Tire has brought its EcoPoint3 technology to the material handling sector with the introduction of the MS600 press-on solid tyre. The Sailun Group specialty tyre business considers the use of this new rubber compounding technology a transformative step that provides an “unrivalled solution” for users of forklift tyres.

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  1. Martin West leaves Maxam Tire International – Troy Kline named successor
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Bridgestone amongst top 10 Sustainable Development Enterprises in Vietnam

Bridgestone

In mid-December Bridgestone was named amongst the Top 10 Sustainable Development Enterprises in Vietnam. This is the fifth year Bridgestone Vietnam has been named in the Top 100 and is the only tyre industry representative on the list, according to local news reports. The list is compiled by Business Council for Sustainable Development Vietnam. (VBCSD) under the auspices of the Vietnam Chamber of Commerce and Industry (VCCI).

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  1. Bridgestone Vietnam wins Best Supplier award from Toyota Motor Vietnam
  2. Bridgestone holds annual TQM conference
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Bridgestone Vietnam wins Best Supplier award from Toyota Motor Vietnam

Vietnam Business Forum

Recently, Bridgestone Vietnam Tire Trading Co., Ltd and Bridgestone Tire Manufacturing Vietnam Co., Ltd (Bridgestone Vietnam) received the Best Supplier award in 2020 at the Toyota Motor Vietnam (Toyota Vietnam) annual conference.

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  1. Toyota awards Bridgestone for Asia Pacific supply performance
  2. GM acknowledges quality at three Bridgestone plants
  3. 6 tyre manufacturers among GM supplier award winners
  4. Honda presents Bridgestone with supplier award
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Jinyu: Further international tyre factories on the agenda

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Jinyu Tire

With an increasing number of countries and regional groupings implementing anti-dumping and countervailing policies against Chinese-produced, Chinese tyremakers are describing the situation as “not optimistic”. However, facing the harsh international trade environment head-on, Jinyu Tire reports that it has a number of solutions for the current market problems.

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  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Guizhou Tire Vietnam factory completes first phase
  3. Sailun confirms Jinyu and Shenyang double acquisition
  4. Serbia open for business
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USA to introduce antidumping, countervailing orders on PLT tyres from 4 countries

The United States International Trade Commission (USITC) has determined that passenger vehicle and light truck (PLT) tyres imported from Korea, Taiwan, and Thailand are being sold in the USA at prices that materially injure the local tyre industry. In addition, the U.S. Department of Commerce has determined that Vietnam’s government is subsidising PLT tyres that are then sold in the USA at “less than fair value.”

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  1. USA approves anti-dumping duties on tyres from 4 countries
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USA capacity increase complements doubling of Kumho’s Vietnam output

Kumho Tire has shared further details of the planned production capacity increase at its facility in Vietnam, as well as news of an associated project in the USA. The tyre maker says the US$305 million investment will double capacity at the Binh Duong Province site by 2023. This means that annual output should reach at least 9.3 million tyres per annum by that time. As previously stated, the project will commence in the third quarter of this year and run until the early part of 2023.

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Guizhou Tire Vietnam factory completes first phase

Guizhou Tyre

The first batch of radial truck tyres rolled off the production line at Guizhou Tire Co Ltd’s Vietnam plant on 1 April 2021, marking the completion of the first phase of the factory project. When Guizhou Tire’s Vietnam tyre factory, which was funded through a share issue in September last year, gets up to speed it will produce 1.2 million radial tyres a year.

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Kumho Tire agrees Vietnam rubber processing plant sale with Hyundai JV

Kumho Tire Co., South Korea’s second-largest tire maker, said Tuesday it will sell its natural rubber processing plant in Vietnam to focus on its core business. According to an official statement published on 23 March 2021, Kumho Tire said it has struck a deal with a joint venture between Korean automaker Hyundai Motor Co. and Thanh Cong Group of Vietnam to sell its rubber factory.

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Kumho investing $300 million in tyre factory expansion plans

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Kumho Tire Co is planning to invest some 340 billion won (£217 million; 255 million euros; US$298 million) in expanding its tyre production facilities in Vietnam. The planned investment aimed at bracing for an increase in demand from North American markets and mitigating tariff-related price pressure, according to local news sources.

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  1. Kumho Vietnamese Plant – Latest
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Vietnam Rubber Group to expand tyre and tube production

Vietnam Rubber Group says it achieved its revenue and profit targets for 2020, reporting profit of VNĐ5 trillion (roughly US$200 million) on sales of VNĐ25.477 trillion ($1 billion), according to the Vietnam News Agency. As a result of these figures, the company reports that its goals include restructuring and increased investment in the rubber sector with possible mergers that would help close the rubber tyre and tube products value chain.

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