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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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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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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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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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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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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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Vietnam-based tyremakers could be “cleared” by US anti-dumping investigation

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Ministry of Industry and Trade of the Socialist Republic of Vietnam [MoIT

Vietnamese officials have interpreted the US Department of Commerce (DOC) anti-dumping investigation preliminary conclusions as “very positive” for Vietnam-produced car tyres. There was even hope that cooperative Vietnam-based tyre manufacturers Local newspapers read this mean Vietnamese tyre factories had been “cleared” by the investigation.

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Sailun boosting Vietnam production to meet demand in Europe & North America

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Tyrepress.com / Stephen Goodchild

During today’s extraordinary shareholders meeting, its first of 2021, Sailun Group confirmed plans for the third phase of expansion at its wholly-owned Sailun (Vietnam) Co., Ltd. subsidiary. Over a three-year period, the company will invest 3.01 billion yuan (£340.1 million) to equip the site with the capacities to produce 3 million car and light commercial vehicle tyres, one million truck and bus radials, and 50,000 tons of off-the-road tyres per annum.

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USA approves anti-dumping duties on tyres from 4 countries

Anti-dumping duties as high as 98% may be applied to passenger vehicle and light truck tyres entering the USA from South Korea, Taiwan, Thailand and Vietnam. The U.S. Department of Commerce announced on 30 December that it will instruct U.S. Customs and Border Protection to collect cash deposits from importers of these products.

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Maxam introduces MS709 telehandler tyre

Maxam Tire has expanded its construction tyre portfolio with an all-new telehandler tyre produced in the company’s recently-inaugurated solid tyre factory in Vietnam. It’s called the Maxam MS709, and Maxam says it has engineered the tyre to “provide the industry with a rugged and long-lasting solution for demanding construction applications.”

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Jinyu Vietnam construction progress, as manufacturer targets mature TBR markets

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Jinyu

Five months on from its groundbreaking ceremony, the first pictures from Shandong Jinyu Tire’s new Vietnam truck and bus radial tyre factory show the progress made so far. At its May 2020 event, Jinyu said the new tyre manufacturing plant would have an annual capacity of 2 million tyres in its first stage, supplying mainly European and North American markets. At its completion, due March 2024, Jinyu would have an annual capacity of 7 million TBR tyres, with a global sales footprint.

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Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue

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Guizhou Tyre

On 4 September 2020 Guizhou Tyre Co. Ltd’s board of directors approved plans for a private share issue. The plan was to raise 1 billion yuan in funding via the sale of now more than 200 million shares to 35 selected investors. By 11 September, the company had received the green light from the state-funded Guiyang Industrial Investment Holding Group Co., Ltd. that it would purchase no less than 43.5 per cent of the issued shares.

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