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Morrocco first – Sentury Tire redirects funds earmarked for Spanish plant

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Sentury Tire has disclosed that it will invest the approximately RMB 2.8 billion (£313 million) it raised to set up a factory in Spain in the construction of its Moroccan plant instead. The motivation behind this decision, says Sentury Tire, is that while the facility in Spain is still in the “approval process” with no clear indication of when this will conclude, the tyre plant in Morrocco is “progressing well” and has a greater need for capital expenditures.

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Related news:

  1. Sentury Tire intends to build 523m euro Spanish tyre plant
  2. Warren Rudman leaves Sentury Tire Spain project
  3. Sentury internationalising with US tyre factory investment
  4. Sentury Tire share issue meets 75% of Spain factory costs
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Sentury Tire intends to build 523m euro Spanish tyre plant

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Sentury Tire, the tyre manufacturer behind the global Landsail tyre brand, has outlined its plan to construct a 522.59 million euro car and light truck tyre plant in the Galicia region of northwest Spain. Qingdao Sentury Tire Co, Ltd’s board of directors approved the proposal to build capacity for 12 million high performance and light commercial tyres on a three-year schedule at a meeting in the last quarter of 2021, announcing this intention to the Shenzhen Stock Exchange on 19 December. The company has implemented a 100 per cent owned subsidiary, Sentury Tire (Spain) Co, Ltd, via its Hong Kong trading company for the project, and wants to ramp up production in two phases; it expects the plant to reach 50 per cent capacity (six million tyres) after two years, with the second half added after three years. Sentury wants to achieve these milestones in 2024 and 2025 respectively, pending construction conditions in Spain and the availability of funding, which Sentury plans to self-raise.

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Related news:

  1. First Landsail tyres produced at new Thai factory
  2. Sentury internationalising with US tyre factory investment
  3. Sales of the Sentury
  4. Warren Rudman leaves Sentury Tire Spain project
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Sentury internationalising with US tyre factory investment

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Step off the plane and into a car at Qingdao airport and it won’t be long before you see a Sentury Tire billboard. While this particular Chinese tyre manufacturer isn’t a global player, it is rapidly internationalising and is selling millions of tyres in Europe (many of which end up in the UK). The firm is expanding very quickly and recent high-profile appointments and off-shore factory investment announcements suggest the firm is well and truly on a growth path. Towards the end of 2015, Tyres & Accessories met with export sales manager Hellen Yang and Davanti vice-general manager Wilson Zhang for a tour of the firm’s large and very modern factory near Qingdao airport.

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Related news:

  1. Sales of the Sentury
  2. Georgia selected as location for $500 million Sentury Tire US factory
  3. Oak Tyres outlines brand strategy in new Davanti era
  4. First Landsail tyres produced at new Thai factory
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Sales of the Sentury

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How does a tyre manufacturer grow from nothing to having large-scale international sales and a few percentage points of market share in a country like the UK in just five years? The answer is by starting with a blank piece of paper and by virtue of some strategic acquisitions.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

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  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
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Related news:

  1. Sentury internationalising with US tyre factory investment
  2. Oak Tyres outlines brand strategy in new Davanti era
  3. First Landsail tyres produced at new Thai factory
  4. Algarve Product Experience extends Davanti’s first-year hot streak
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Sentaida International Acquires ZT Wholesale

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The Zisser Tire Company has entered into an agreement with Sentaida International for the purchase of the Zisser Tire Wholesale operation. The acquisition by Sentaida International will be limited to Zisser’s wholesale division, and the transaction is scheduled to be completed on November 21. Sentaida International, part of the China based Sentaida Group, is currently headquartered in Southern California and owns the private brands Sentaida and Delinte. It also acts as the agent for a number of brands in the US, including Linglong UHP.

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  4. Sales of the Sentury
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