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Sailun bond issuance application approved

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Sailun

The China Securities Regulatory Commission reviewed and approved Sailun’s convertible bond public issuance application on 13 September. The tyre company plans to raise about 2 billion yuan (about 250.2 million pounds, 286.3 million euros), mainly for constructing two factories in Vietnam and Cambodia. Sailun said that investing in two overseas factories could further expand its tyre production capacity overseas and increase its manufacturing scale and market share.

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Related news:

  1. Jiangsu General raises funds for Cambodia factory
  2. Pirelli and Hixih move closer together
  3. Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue
  4. Sailun: 7 million tyres sold in Europe and counting
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Jiangsu General planning to run five tyre factories

Recently, Jiangsu General Science and Technology (Jiangsu General) has revealed a strategic plan to reach five production bases in the next 10 years. Currently, the company has two factories in China and Thailand and has more recently launched projects in Cambodia.

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  1. China’s GS Tire raises Cambodia investment to $300 million
  2. Expansion – production has changed, but it is certainly ramping back up again
  3. Jiangsu General raises funds for Cambodia factory
  4. Jiangsu General investing 400 million euros in Chinese car tyre factory
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Anvil invests six-figure sum in Dromore tyre centre

Anvil Tyres

Anvil Tyre Centre, owned and managed by brothers Daniel and Kyle Wethers, has moved into a new MOT servicing and tyre repair depot in Dromore, Northern Ireland following a six-figure investment supported by Ulster Bank. The move will create two new full-time equivalent jobs when fully operational. As a result, Anvil Tyre Centre is vacating its former trading premises on the Lurgan Road.

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  1. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
  2. Kerr’s invests in 14 new jobs, Newtownards tyre centre
  3. Kerr’s Tyres & Auto to invest £2 million creating 15 new jobs
  4. Kerr’s Tyres buys Roundabout Tyre & Battery Service
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Hankook Tire investing $1.6 billion in Clarksville USA factory

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Hankook

Hankook Tire is set to invest US$1.6 billion in the expansion of its Clarksville, Tennessee tyre factory. The investment includes the previously announced Phase 2 expansion, which will increase Hankook’s capacity to produce passenger car and light truck (PC/LT) tyres twofold as well as a Phase 3 expansion, which will enable the company to begin producing truck bus and radial (TBR) tyres in the United States. The company estimates that the addition of the Phase 3 expansion project will create an additional 400 jobs in the Clarksville region, for a total of 1,200 new positions.

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  1. Sentury internationalising with US tyre factory investment
  2. Nokian to invest $360 million in new US tyre factory
  3. Hankook Tire postpones Hungary truck tyre plant
  4. Continental distributes first Clinton, Mississippi-made truck tyres
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USA: Bridgestone investing $550 million in TBR production

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Bridgestone Americas will spend US$550 million over the coming two years on the expansion and modernisation of its Warren County truck and bus radial tyre plant in the US state of Tennessee. The project will add 380 jobs to the Warren County workforce and expand the plant’s existing footprint by 850,000 square feet (around 79,000 square metres).

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  1. Bridgestone Americas expands leadership roles
  2. Bridgestone boosts fleet portfolio with Azuga acquisition
  3. Bridgestone invests in tyre sensor & data company Tyrata
  4. Bridgestone invests in autonomous driving tech firm May Mobility
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Nokian Tyres appoints Anna Hyvönen EVP of entire Passenger Car Tyres business

At a time when it is investing in new European capacity and exiting Russia, Finland’s Nokian Tyres has announced a reorganisation of its structure and management. These measures centre upon a combining of all Passenger Car Tyres commercial operations under the leadership of Anna Hyvönen, who currently serves as executive vice-president North America, Nordics and Vianor. Bahri Kurter, executive vice-president Central Europe at Nokian Tyres, is leaving the company to “pursue his career outside of Nokian Tyres.”

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  1. Nokian handed additional tax bill
  2. Nokian tyres implements Ukraine contingency plans, donates to UNICEF
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Nokian Tyres raises 2022 net sales guidance
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Jiangsu General raises funds for Cambodia factory

Jiangsu General

On 12 August, Jiangsu General stated that it would issue shares on the Shanghai Stock Exchange in a non-public funding initiative. The stock issuance plan shows that Jiangsu General is prepared to issue shares to no more than 35 specific investors. The number of shares to be issued shall not exceed 386,578,320 units, which is 30 per cent of Jiangsu General’s total share capital before the issuance of shares. The total amount of funds raised does not exceed 1.018 billion yuan (£124.42 million, 147.15 million euros). It is reported that HOdo Group, the controlling shareholder of Jiangsu General, plans to subscribe for shares in cash, with a subscription amount of not less than 30 million yuan (£3.67 million, 4.34 million euros) and not more than 200 million yuan (£24.45 million, 28.91 million euros).

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Related news:

  1. China’s GS Tire raises Cambodia investment to $300 million
  2. Jiangsu General investing US$300 million in Thailand tyre plant
  3. Triangle IPO on for early September
  4. Jiangsu General investing $204 million in Cambodia car tyre factory
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Wanli planning to build Vietnam tyre factory

Wanli Tire

Wanli Tire reports that company representatives have visited overseas factory sites and completed a draft report based on the inspections. Wanli deputy general manager Hu Yongfang announced at the summary meeting for the first half of 2022 that Wanli will strive to complete the establishment of an overseas factory project by the end of 2022.

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Related news:

  1. Guizhou Tire begins $350 million construction project on two China factories
  2. Vietnam Rubber Group to expand tyre and tube production
  3. Jinyu: Further international tyre factories on the agenda
  4. Guizhou Tire Vietnam factory completes first phase
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BKT looking to further increase capacity

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With capacity expansion projects now completed and being ramped up, BKT anticipates achieving a total capacity of 360,000 tonnes per annum by the end of March 2023. But further growth is necessary if the company is to keep pace with demand for its off-highway tyres. During a conference call with investors on 5 August, the tyre maker confirmed that plans are already “on the drawing board” for additional expansion beyond the current projects.

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  1. $171m investment: Capacity at Yokohama OHT’s new plant to double
  2. Capacity expansion: TVS Srichakra signs MoU
  3. BKT: Bhuj carbon black plant to ‘better ensure raw material qualities’
  4. Off-highway capacity to double: Ceat curtails TBR expansion
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Xingda investing £200 million expanding Thailand tyre cord factory

Xingda

At the end of July, Chinese tyre cord manufacturer Xingda announced that it is investing 1.6 billion yuan (£200 million; 232.432 million euros; $237 million) adding 200,000 tons of steel cord annual production capacity to its Thailand factory. The planned construction period is 24 months and the project has been officially approved by China’s National Development and Reform Commission.

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Related news:

  1. Xingda published first ever sustainability report by a Chinese steel cord maker
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Jiangsu General investing US$300 million in Thailand tyre plant
  4. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
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ZC Rubber plans to add 2.5 million tyres production capacity

ZC Rubber

ZC Rubber’s subsidiary in Xindeng Town, Fuyang District, Hangzhou City, is planning to add 2.5 million all-steel radial tyres to its production capacity. ZC Rubber stated that the company plans to build a new production workshop and auxiliary facilities shared by the Xindeng Town plant in the reserved space inside the factory. The total construction investment is expected to be 700 million yuan (about £85.14 million, 102 million euros).

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  1. ZC Rubber’s Anji factory starts making tyres
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Linglong investing almost $1 billion in new circular economy-focused China tyre factory
  4. Rebuilding Sailun: Multi-billion dollar plans for new tyre and materials factories analysed
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BM Catalysts invests six figures in exhaust production technology

BM Catalysts

BM Catalysts has boosted its investment in the latest exhaust system manufacturing technology via a “six-figure investment in new additional hi-tech machinery”. According to the company, the investment will “help further increase productivity and capacity, and in its research and development of new-to-range parts”.

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  1. Bosal goes into administration
  2. Klarius to invest £1.5million from 2016
  3. Sir Bill Cash MP opens £1 million investment at Klarius
  4. Klarius increases UK manufacturing capacity
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Sailun Dongjiakou factory construction underway

Screenshot from local media coverage

On 20 July 2022, the launch ceremony of the Advanced Polymer and Metal Materials Industrial Park in Qingdao City, Shandong Province was held. Tyrepress noted that among the seven projects that started construction, the Functional New Material Industrial Park belonging to the National Engineering Research Center for Rubber and Tire (NECRAT) was included.

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  1. Kumho Vietnamese Plant – Latest
  2. Hangzhou Zhongce confirms Thai factory reports
  3. Georgia selected as location for $500 million Sentury Tire US factory
  4. Sailun investing in 8th tyre factory
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Brembo and Gold Phoenix invest 35 million euros in aftermarket brake joint venture

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Mike’s Photography; Pixabay

Brembo and Chinese brake manufacturer Gold Phoenix have signed a 50:50 Joint Venture agreement to create Shandong BRGP Friction Technology Co. Ltd, the first large scale Brembo manufacturing facility fully dedicated to producing aftermarket brake pads. Brembo and Gold Phoenix have agreed to invest 35 million euros in the project over the next three years. Shandong BRGP Friction Technology Co., Ltd is expected to start operations in early 2023 in Jinan, the capital of Shandong province in Eastern China.

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  1. Brembo to invest €32 million in Mexico caliper plant
  2. Brembo reports 1H sales of 1.1468 billion, EBIT up 42%
  3. Serbia open for business
  4. Jinyu: Further international tyre factories on the agenda
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Autonomous driving: Bridgestone invests in Tier IV

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Bridgestone is investing in Tier IV, a Japanese start-up engaged in the development of open-source software for autonomous driving. The investment is part of a funding round that also includes additional support from existing investors Yamaha Motor and Sompo Holdings. Tier IV will use these funds together with a grant to launch its $300 million Green Autonomous Driving project.

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  1. Bridgestone invests in Next Logistics Japan
  2. Bridgestone investing in flagship mining tyre plant
  3. New warehouse, increased capacity at Bridgestone’s Hungary tyre plant
  4. Caterpillar ‘Platinum’ certification for 4 Bridgestone tyre plants
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