Cheng Shin considering India plant
According to Taiwan’s national news agency, local tyre maker Cheng Shin Rubber has voiced interest in establishing a factory in India. The Central News Agency reported Cheng Shin president Chen Yun-hwa as saying demand from emerging economies, including India, remains strong despite escalating debt problems in the eurozone, and therefore the company may set up a plant in order to tap into the fast-growing Indian market.
The manufacturer of the Maxxis, Cheng Shin and Sakura tyre brands already supplies original equipment tyres to three major vehicle manufacturers in India – Tata Motors, Maruti Suzuki India and Mahindra & Mahindra. The Taiwanese tyre maker now intends to open a representative office in India before the end of the year, and will use this presence to strengthen its after-sales service in India.
Last year, Cheng Shin posted NT$119.96 billion (£2.55 billion) in sales, up 19.99 per cent from a year earlier, while recording NT$8.59 billion (£182.63 million) in net profit, down 17 per cent year-on-year. The greater China area, including Taiwan, accounted for 63 per cent of the company’s total sales during the year, followed by the Americas with 13.3 per cent, Asia-Pacific with 11.5 per cent, Europe with 7.0 per cent, and the Middle East and Africa with 5.2 per cent.
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