Now one of the largest tyre-producing countries in the world, China has an indisputable influence on the direction of global tyre trade. The home of both fast-growing up-and-coming brands as well as a burgeoning domestic market, this tag chronicles China’s involvement with the tyre business.
In response to the rapidly expanding Automechanika Shanghai, Asia’s largest trade fair for automotive parts, accessories, equipment and services will be newly located at the National Exhibition and Convention Center, Puxi, Shanghai. It will house the enlarged 280,000 square metres of exhibition space, which is a nearly 30 per cent increase from last year and completely sold out for the December 2-5 show.
Following the recent publication of “Triangle and Goodyear in ‘long-term cooperation’”, which picked up on a smaller thread in Triangle’s recent conference coverage (see “Triangle ‘goes global’ at Weihai summit”), Goodyear spokespeople from the firm’s US and European headquarters contacted Tyres & Accessories in order to comment on the report. Presenting a statement on the subject, the Goodyear representatives said “Goodyear wishes to set the record straight on public comments made by Triangle.”
In answer to questions from Tyres & Accessories, Chinese manufacturer Triangle has verified that it is in a “long-term cooperation” with Goodyear, confirming earlier suggestions of business connections between the two companies.
As of yesterday (12 October 2015) Marco Polo Industrial Holding’s offer for Pirelli ordinary share capital achieved an acceptance rate of 53.6 per cent. However, because today (13 October) is the last day of the offer period, it is very likely that this percentage will be significantly more at the end of the day. This means the pre-announced plans for ChemChina to buy around two-thirds of Pirelli is well underway and therefore the company is now effectively Chinese-owned.
Triangle Tyre’s recent summit at the company’s headquarters in Weihai, Shandong Province continues the firm’s recent movement towards going global. The theme was “bring progress to the society, create civilization for human beings”, which when culturally translated speaks of the firm’s intention to be a CSR-conscious global player. According to the company, more than 400 customers were present including representatives of the likes of Caterpillar, Lanxess, Bekaert and VMI as well as the media researchers and scholars from different countries.
On 5 October the Linglong Tire 2015 China Truck Racing Championship concluded at Beijing Jinggang Speedway, the final station of 2015 CTR. This truck racing challenge reportedly attracted plenty of truck fans from home and abroad coming to watch the live show. Linglong Tire was both the title sponsor and nominated tyre supplier.
The 2015 edition of the China International Tire Expo opened on 9 September in Shanghai with around 350 exhibitors – the show’s most ever. The sustained growth represented by these numbers has led to the decision by organiser Reliable International Exhibition Services to transfer CITExpo to the Shanghai World Expo Exhibition and Convention Center (SWEECC), built in the centre of the 2010 Shanghai World Expo site. The show also boasts strong continuity, with around 80 per cent of 2014 exhibitors back in 2015, according to Reliable; in past years the organiser has come to expect a similar proportion of its customers booking their space for the following year during CITExpo.
Software solutions and services provider incadea has entered into an agreement with Michelin to deploy its incadea.fastfit tyre business management solution in more than 2,000 Tyreplus retail sites throughout China by 2018.
On 29 September Marco Polo Industrial Holding S.p.A purchased 45,143,033 ordinary Pirelli & C. S.p.A. shares representing approximately 9.5 per cent of the company and 190,307 savings shares from certain investment funds managed by Paulson at a price of Euro 15.00 per share.
The entire sales management team within Continental’s tyre business in China has been removed from their duties, and an investigation has begun into allegations of corruption. German financial daily Handelsblatt reported yesterday that a number of managers allegedly “personally enriched” themselves through business transactions. Continental declined to officially comment on the situation as the investigation is not yet complete.
The 2015 edition of the China International Tire Expo opened Wednesday in Shanghai, with around 350 exhibitors – the show’s most ever. The sustained growth represented by these numbers has led to the decision by organiser Reliable International Exhibition Services to transfer CITExpo to the Shanghai World Expo Exhibition and Convention Center (SWEECC), built in the centre of the 2010 Shanghai World Expo site. The show also boasts strong continuity, with around 80 per cent of 2014 exhibitors back in 2015, according to Reliable; in past years the organiser has come to expect a similar proportion of its customers booking their space for the following year during CITExpo.
The 13th China International Tire Expo (CITExpo) kicks off on 9 September 2015. Organiser Reliable International Exhibition Services Co, Ltd.
Rosneft and China National Chemical Corporation (ChemChina) signed a Heads of Agreement on cooperation in equity investment in ChemChina Petrochemical Corporation (CCPC) and a Memorandum of Understanding for cooperation on the project of the Far-East Petrochemical Company (FEPCO).
Marco Polo Industrial Holding S.p.A. , which is indirectly by China National Chemical Corporation (ChemChina), through China National Tire & Rubber Co., Ltd., has confirmed that the regulator (Consob) has approved the firm’s offer document related to the mandatory tender offer of the ordinary shares of Pirelli & C. S.p.A. listed on the Electronic Stock Market and the voluntary tender offer launched by the same firms.
Tyre racking and equipment firm, Martins Industries has appointed Anthony Adams as a technical representative for Western USA. Adams is a Nebraska University business graduate with years of experience in sales. He joins a “young and dynamic team” at Martins Industries.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.