Taiwan tyre manufacturer Cheng Shin Rubber has decided to increase the capital of its Indian subsidiary Maxxis Rubber India Private Limited through its funds. The capital increase is about 3.36 billion rupees (about £32 million; €38 million).
Cheng Shin Rubber reports that some information systems belonging to its Canadian company, Cheng Shin Rubber Canada Inc., recently suffered a cyber-attack.
In the first half of 2024, Cheng Shin Rubber’s revenue was NT$48 billion (about RMB 10.6 billion; £1.16 billion; €1.35 billion). In the same period, the tyre manufacturer’s net profit was NT$4.58 billion (about RMB 1 billion; £110 million; €130 million).
Taiwanese tyre manufacturer Cheng Shin Rubber has re-elected its board of directors. Chen Yun-Hwa continues as chairman of the tyre maker and Lo Tsai-Jen succedes Chen Shiu-Hsiung as vice chairman. Other members of the board of directors include Chen Shiu-Hsiung, Tseng Sung-Chu, Lee Chin-Chang, Lo Yuan-Long, Chen Han-Chi and Wu Hsuan-Miao. In addition, Lo Tsai-Jen’s son Lo Yuan-Long succeeded Huang Chung-Jen as the new director. Tseng, Sung-Ling’s directorship was replaced by his cousin Tseng Sung-Chu.
Maxxis has been recognised for its adaptable tyre and wheel assembly concept, the T Razr. The innovation was presented with the silver award in the 2020 A’ Design Awards, organised by organized by OMC Design Studios SRL, based in Como, Italy. Maxxis states that the design is inspired by the need to bring “a safer, more economical tyre solution to the global tyre market.”
The introduction of Maxxis’ (Cheng Shin Rubber) manufacturing plant in Indonesia has been warmly welcomed by the country’s president-elect, and the local industry will have the chance to see the company’s plans up close. Maxxis will exhibit at Tyre & Rubber Indonesia 2015 between 18 and 22 March 2015 at JIExpo Kemayaran, Jakarta, with a 144sqm booth.
Indonesia’s newly elected president promised support for Maxxis’ planned tyre factory in the country in a meeting with company officials in Jakarta at the end of September. Accompanied by members of the company’s Indonesia management team and a representative of Taipei’s Economic and Trade Office in Jakarta, Maxxis president Dr Wally Chen met with president-elect Joko Widodo 29 September.
According to a report in the Taipei Times, Cheng Shin Rubber has ambitions to overtake Yokohama rubber and become the world’s eighth largest tyre manufacturer.
The company hopes to achieve this by tapping into the fast growing Chinese car market and it has already signalled its intention to increase expenditure at its R&D operation in Kunshan, Jiangsu Province, China.
Maxxis International thanked its top 18 performing retailers of 2010 – the winners of the top prize in the Maxxis Rewards programme – by taking them on a seven-day, all expenses paid trip to China. A mix of culture and business, the visit combined sightseeing visits to major attractions in Shanghai, Hangzhou and Shuzhou with a tour of the Maxxis factory in Kunshan.
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