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Doublestar deputy general manager steps down

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Doublestar

Zhang Zhentao, deputy general manager of Doublestar, submitted a written resignation application to the board of directors recently. Doublestar confirmed that Zhang Zhentao is not employed by company following his resignation, but did not disclose where he is working now. Zhang Zhentao is mainly engaged in financial work and has served as the deputy general manager of Doublestar since May 2020. Before that, he was part of the financial management of Tsingtao Brewery.

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  1. Doublestar names Antonio Smith as general director for Spain and Portugal
  2. Kumho USA appoints new CEO amidst global reshuffle
  3. Continental Tires (China) appoints general manager
  4. Toyo Tire & Rubber chairman resigns
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Up & Running: Kumho publishes first annual report since 2018

For the first time since being acquired by China’s Doublestar four years ago, Kumho Tire has published an annual report. Under the title ‘Up and Running’, the South Korean tyre maker reports on the course of the 2021 business year, which the manufacturer closed with a turnover of KRW 2.6 trillion won (£1.65 billion), a year-on-year increase of 20 per cent.

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  1. Kumho brand name off-limits to tyre maker’s potential purchaser
  2. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  3. Yokohama Rubber ends technology tie-up with Kumho Tire
  4. Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched
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Aeolus and Doublestar both report sharp declines in net profit

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Doublestar

Aeolus and Doublestar recently reported operating results for the first half of 2022. Both show sharp declines in net profits for the two companies that have controlling interests in global tyremakers Prometeon and Kumho respectively.

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  1. Serbia open for business
  2. The top 10 listed Chinese tyre companies 2022
  3. Profits fall at large Chinese tyremakers
  4. Doublestar back in pole-position for Kumho purchase
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The top 10 listed Chinese tyre companies 2022

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Mylene2401; Pixabay

Chinese listed tyre companies have successively released their 2021 annual reports in recent weeks. Here, Tyrepress analyses these annual reports’ comparing developments in revenue, operating conditions and overseas factory strategy. And the short story is Linglong remains the largest tyremaker amongst the top 10 listed Chinese tyre companies and that Sailun is the fastest growing.

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  1. Chinese tyre makers off-shoring in Southeast Asia
  2. Serbia open for business
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  4. ZC Rubber still number one tyre manufacturer in China 
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Doublestar working with Huawei on 5G tyre network

The Doublestar Group reports that it has signed a cooperation agreement with information and communications company Huawei. According to information posted by Doublestar, the partners will utilise their respective strengths to develop the infrastructure for a 5G network over which tyre pressure, temperature and wear data can be transmitted and shared between vehicles and companies in real-time.

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Related news:

  1. Doublestar launches Crossleader self-seal tyre
  2. Why Doublestar’s Kumho purchase is a good idea
  3. Doublestar acquires Hengyu Technology
  4. 2nd Algerian tyre plant: Doublestar participating in JV
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Triangle returns to China car tyre top 10, Michelin retains top spot

Stephen Goodchild

Triangle Tyre expresses pride in its comeback as a top-ten consumer tyre brand in the China Brand Power Index (C-BPI) 2020. The brand occupies ninth place, ahead of domestic rivals such as Warrior, Chaoyang, Giti and Linglong.

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  1. Giti enters the top 10 of leading tyre manufacturers
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  4. Zhongce Rubber enters global top ten tyre manufacturers
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Kumho synergies & new growth: Doublestar benefitting from acquisitions

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It was a difficult birth. As regular visitors to this site are well aware, Qingdao Doublestar Co Ltd.’s acquisition of Kumho Tire was punctuated by more than its share of complications: Threats of mass resignations, bickering over brand name use and questions about financing all belonged to the experience.

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Related news:

  1. Doublestar forms European joint venture with Zenises
  2. Doublestar the only bidder left to buy Kumho
  3. Zenises, Doublestar officially confirm strategic partnership
  4. Why Doublestar’s Kumho purchase is a good idea
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2nd Algerian tyre plant: Doublestar participating in JV

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Buried within the more than 134 pages of Qingdao Doublestar’s latest semi-annual report is the news that the state-owned tyre maker will extend China’s ‘one belt, one road’ strategy by working with a local partner to establish a tyre production facility in Algeria. The Chinese-language document states that its subsidiary Hong Kong Doublestar signed a joint venture agreement with El Hadj Larbi Pneumatiques during the reporting period.

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  1. Zenises, Doublestar officially confirm strategic partnership
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Doublestar acquires Hengyu Technology

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Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.

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  1. Doublestar the only bidder left to buy Kumho
  2. Doublestar back in pole-position for Kumho purchase
  3. Why Doublestar’s Kumho purchase is a good idea
  4. Acquisition ugliness: Kumho Tire execs threaten mass resignation
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Kumho the strongest ‘local’ in South Korea’s aftermarket

It may not be the best-selling Korean tyre brand worldwide, but at home Kumho outsells its domestic rivals. Data from the Korea Tire Manufacturers Association (KOTMA) indicates that 6.52 million replacement market Kumho tyres were sold in South Korea in 2018. This is more than 40 per cent of all locally-made tyres sold in the country.

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  1. Acquisition ugliness: Kumho Tire execs threaten mass resignation
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  4. Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched
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Doublestar car tyres on-sale in Carrefour Spain

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Doublestar Tyres, the new majority shareholder of Kumho, recently announced that its tyres are on-sale alongside premium brands at Carrefour supermarkets in Spain.

According to Doublestar, which compared Carrefour founded in 1959 to Walmart in the USA, the supermarket chain is Europe’s favourite. Having pioneered the so-called hypermarket approach in Europe Carrefour has developed into the largest retailer in Europe and the second largest international retail chain group in the world, with business scope covering more than 40 countries and regions. Carrefour owns 17 large chain stores in Spain, which covers the Iberian area and radiates to the whole pan-European region. With an annual population of 400 million, Carrefour is a perfect channel for product sales and a perfect platform for brand exposure.

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  1. Michelin invests in Iberian tyre distribution
  2. CV trailer market to grow 2% despite weak 1H
  3. Doublestar names Antonio Smith as general director for Spain and Portugal
  4. Continental AG measures ‘encouraging’, but R&D budgets and European tyre factories could be cut – analysts
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Doublestar names Antonio Smith as general director for Spain and Portugal

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Qingdao Doublestar Group, recently named Antonio Smith Montero as general director for the company in Spain and Portugal. With this announcement the company, which recently acquired Korean manufacturer Kumho Tire and is well-known for its Doublestar, Crossleader and Aosen brands has underlined its commitment to the Iberian tyre market.

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Related news:

  1. Doublestar launches Crossleader self-seal tyre
  2. Triangle Tyre appoints new European team
  3. Westlake Tyres appoints Nordic sales manager
  4. Goodyear names Hakan Bayman as president of European Consumer Business
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Tire+ 2018 opens

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The second edition of the Tire+ exhibition, organised by China United Rubber Company, got underway today in Guangzhou, Guangdong Province China at the world-famous Canton show ground. The show runs in parallel with the large-scale Guangzhou Autoshow (itself a top three automotive event in China) as well as the China Essen Motor Show and continues until 19 November.

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  1. Show review: Reifen China 2014
  2. 120 exhibitors, 15,000 visitors expected for Reifen China 2014
  3. Citexpo 2014 opens its doors to record crowds
  4. Citexpo 2014 reports record figures
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