Vietnam to Export Tyres to EU in 2008

Vietnam’s Southern Rubber Industry Company (Casumina) has signed an European export deal with Continental AG at the company’s Asian office in Malaysia on November 7. Casumina will export the first batch of motorbike and truck tyres that result from the five-year agreement in 2008, according to various Vietnamese news agency reports.

Under the contract, Continental AG will import at least 170,000 truck tyres and 600,000 motorbike tyres made by Casumina at a total value of US$12.9 million worth of e-marked tyres a year. Casumina exports to 36 countries worldwide.

Earlier in November Southern Rubber Industry Joint Stock Company, a member of the Vietnam National Chemical Corporation (Vinachem) was ranked as 59th in the world’s top 75 tyre manufacturers in the world, as voted by the Association of Rubber Consuming Countries.

The company has enjoyed considerable growth, achieving 1.8 trillion Vietnamese dong (£55 million; 76 million euros; US$112.5 million) in revenue this year, according to the Vietnamese News Agency. The Casumina holds a 30-40 per cent domestic market share.