The Firemax Cambodia factory is scheduled to start production in May 2025, an employee of Zhongqi Overseas Group, which is responsible for developing the Kratie Special Economic Zone in Cambodia, revealed in an interview.
Topower Tyre, headquartered in Jiangsu, China, said it will invest $7 million to build a manufacturing base in Cambodia with an annual output of 200,000 solid tyres. The primary construction entity of the project is Topower (Cambodia), a wholly owned subsidiary of Topower Tyre.
On 12 January, Wanli Tire held a groundbreaking ceremony for its new production facility in Cambodia. The Guangzhou Industrial Investment Holdings Group (GIIHG) company is setting up a plant in the Xin Bavet Special Economy Zone, in Svay Rieng province, with a production capacity to produce 10 million semi-steel radial tyres and 1.2 million all-steel radial tyres. This is not only Wanli Tire’s first overseas project – GIIGH views the project as a “crucial step” towards accelerating its globalisation strategy within the framework of China’s Belt and Road initiative.
At a board meeting held yesterday, the directors of Sailun Group unanimously approved a further US$93.48 million investment in the company’s Cart Tire Co., Ltd. subsidiary in Cambodia. With this investment, which includes a construction investment of $61.18 million and working capital of $32.30 million, the facility in Svay Rieng will gain additional capacity to produce 1.65 million all-steel radial tyres annually.
Cambodia’s car tyre exports rose 135 per cent year-on-year in the first 11 months of 2024, according to a Ministry of Commerce report published before Christmas.
According to a news release from the Council for the Development of Cambodia (CDC), Chea Vuthy, chairman of the Cambodian Investment Board under the agency, inspected the construction progress of Zodo Tyre on the afternoon of 14 December 2024.
On 30 October, Sailun announced it is building an industrial park in Cambodia called “Cambodia Kampot Special Economic Zone Project” (Kampot SEZ). Furthermore, Sailun said that it is preparing to set up a wholly-owned subsidiary, Kampot Bay Investment Co., Ltd., in Cambodia, which will be responsible for implementing the Kampot SEZ. The project’s total investment is about US$110 million, which will be covered by Sailun’s self-raised funds.
At 2.28 billion yuan (about £250 million; €290 million), Doublestar’s revenue was almost the same year-on-year in the first half of 2024. Doublestar was still in the red during the reporting period. However, compared with the same period in 2023, its losses were further reduced to 57.1 million yuan (about £6.2 million; €7.4 million). According to Doublestar, “PCR product profitability continues to improve” but “insufficient market demand for truck and bus tyres” is why the tyre manufacturer is still losing.
Doublestar has held a ceremony to celebrate the start production at its Cambodia tyre factory. The factory’s total investment is about US$200 million. It is a joint venture between Doublestar and Zhongqi Holding Group. At total production levels, it will be able to produce 7 million semi-steel radial tyres and 1.5 million full-steel radial tyres per year.
Jiangsu General reports that the first tyre rolled off the production line of its Cambodia Factory Phase II project. The tyre manufacturer defines this milestone as “another historic and important moment in the internationalisation journey”. Gu Cui, chairman of Jiangsu General, said that the commissioning of the Cambodia Factory Phase II project will promote Jiangsu General’s “industry internationalisation, intelligence, and green transformation to a new level”.
Doublestar reduced the registered capital of Guangrao Jixing, a wholly owned subsidiary, on the grounds of “strategic optimisation and adjustment”. Information released by the tyre manufacturer shows that the registered capital of Guangrao Jixing has been reduced from 609 million yuan to 205 million yuan.
MESNAC has announced plans to invest in factories in Vietnam and Cambodia. The company’s board of directors has approved two investment plans. The investment in the Vietnam factory amounts to 107 million yuan, and the construction period is about 18 months. The total investment in the Cambodian factory is 27.97 million yuan, and the construction period is 14 months.
Jiangsu General held an overseas dealer conference in Cambodia on 22 May and celebrated the first anniversary of its Cambodian tyre production base. At the meeting, the tyre manufacturer announced that the first phase of the Cambodian project had reached production. In other words, its Cambodian factory can now produce 5 million semi-steel radial tyres and 900,000 all-steel radial tyres per year.
In 2023, Jiangsu General’s revenue was approximately 5.06 billion yuan (approximately £540 million; €640 million), with a net profit of 220 million yuan (about £ 24 million; €28 million). Compared with the net profit of approximately 17 million yuan (about £1.8 million; € 2.16 million) in 2022, the company’s profit has increased more than tenfold in the past year.
Fornnax introduced the SR-200 HD Dual-Shaft Primary Shredder at India Rubber Expo (IRE) at the Bombay Exhibition Centre in Mumbai on 20 March. According to the company, “the SR-200 HD marks a significant leap in recycling technology, demonstrating Fornnax’s dedication to engineering excellence and sustainability.”
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