Sailun investing for further growth
Ten years is a long time in the tyre industry. A decade ago, virtually nobody knew the name Sailun; hardly surprising, as the Chinese firm had yet to produce its first tyre. The company was established in November 2002 and the first Sailun truck tyre – a S816 pattern tyre in size 10.00R20 – was manufactured in 2003. In the following years Sailun has undergone phenomenal growth, and the firm’s original truck tyre factory has been joined by passenger car radial, OTR tyre and retreading plants. A further major stride in the company’s history took place last year when Sailun embarked on an initial public offering, which is said to have raised around RMB 1 billion (£100 million) – funds the company is drawing on for new capital expenditure projects. In September, just two months’ shy of Sailun’s tenth anniversary, Tyres & Accessories was given the opportunity to visit the tyre maker’s facility and new headquarters in Qingdao and talk about Sailun’s significant current and planned developments.