Prinx Chengshan planning Malaysia, China tyre production projects
Prinx Chengshan has disclosed in its 2024 annual report that it plans to build a second overseas factory in 2025. The current site is Kedah Rubber City in northern Malaysia.
Tag Archive for: Malaysia
SNCTIRE plans Malaysia tyre factory
Shandong New Continent Tire (SNCTIRE)’s investment plan in Malaysia was registered in March. Specifically, the Shandong-based tyre manufacturer plans to establish Jiafu Industrial Co., Ltd. in Malaysia and build a radial tyre production plant.
Goodyear closing plant in Malaysia
The Goodyear Tire & Rubber Company intends to close another production facility, this time far away from its European operation. The company will end tyre making at its plant in Shah Alam by 30 June 2024, with the closure process completed by the end of this year. Approximately 550 employees will be directly affected by the plant’s shutdown.
Continental a Mercedes-Benz preferred partner in Asia Pacific
Mercedes-Benz has awarded Continental preferred tyre partner status in China, Australia, Malaysia, and Indonesia. This takes effect immediately and is valid until August 2025. Furthermore, Mercedes-Benz has extended its existing partnership with Continental in the Indian market until August 2024.
Toyo Tires installs giant solar power plant at Malaysia tyre factory
Toyo Tires is installing a 14.0 MW solar power plant at its Toyo Tire Malaysia SDN BHD (TTM) tyre factory. According to Toyo representatives, TTM “mega-solar system” will be the largest in the state of Perak, Malaysia when work on the 96,000-square-metre rooftop space of the factory building is completed.
Yokohama Rubber establishing tyre sales JV in Malaysia
From the start of next year, Yokohama tyres will be sold in Malaysia through a newly formed joint venture company. Tyre maker Yokohama Rubber Co., Ltd. will hold a 51 per cent stake in the new Yokohama Tyre Sales Malaysia Sdn. Bhd., with the remaining share held by YHI (Malaysia) Sdn. Bhd. (YHIM), subsidiary of the exclusive distributor of Yokohama tyres in Southeast Asia, YHI International Limited (YHI). Akira Nakamoto has been appointed managing director.
Goodyear’s Malaysian tyre plant under investigation
PixabayGoodyear Tire & Rubber Co’s Malaysian tyre factory has been under scrutiny for at least two years following questions relating to working conditions. At the end of November, US Department of Homeland Security officials interviewed local staff as part of investigations that “could lead to US prosecutions”, according to Reuters, which added Goodyear faces “related lawsuits and two ongoing investigations by regulators in Malaysia and the United States, each looking into potential exploitation of foreign workers.”
In response to the investigation and related reporting, Goodyear issued the following statement: “Goodyear takes seriously any allegations of improper behaviour and is committed to ensuring that our business practices and those of our associates, our supply chain, and our vendors adhere to both our policies and all applicable legal requirements.”
Retreader Maxrubber seeking a “strong presence” in Europe
Malaysian firm Maxrubber Industries Sdn Bhd claims to be the fastest-growing manufacturer of tyre retreading materials, and the company has Europe firmly in its sights. Following what it calls an “extensive period of investment” at its manufacturing facility in Klang, some 25 miles southwest of Kuala Lumpur, Maxrubber has announced the start of a “targeted export drive” with a view to “developing a strong presence in the European market.”
Dunlop to tackle new challenge at 1st EWC 8 Hours of Sepang
Following a successful Bol d’Or 24hr, Dunlop heads to the inaugural 2019-20 FIM Endurance World Championship (EWC) 8 Hours of Sepang. Dunlop showed the adaptability and consistency of its tyre range in tricky weather conditions at the Bol d’Or 24hr as Team Suzuki Endurance Racing Team (SERT) took top honours. The manufacturer says the Sepang International Circuit will pose a new test for all 20 bikes utilising Dunlop tyres, with sweeping corners and wide straights, including a 927 metre back straight, at the 5.5km circuit.
Work begins on Maxtrek’s Malaysian tyre plant
Groundbreaking took place last month on a new Maxtrek Tyres plant in Malaysia. Guangdong, China-based tyre maker Zhaoqing Junhong Co., Ltd. is setting up the plant on a 121.4-hectare site within the Malaysia-China Kuantan Industrial Park (MCKIP) in Pahang state.
New mixing facility at Continental’s Malaysia tyre plant
Continental has inaugurated a new, state-of-the-art rubber compound mixing facility at its tyre plant in Alor Setar Malaysia. The tyre maker invested more than MYR 65 million (£10.6 million) in the 3,200 square metre facility at the Alor Setar factory, which produces two-wheeler, car and light commercial vehicle tyres for the domestic and APAC region markets. Its entry into operation is expected to lead to increased capacity and flexibility.
Top natural rubber produces cutting exports by 240,000 tons
On 6 March, the International Tripartite Rubber Council (ITRC) announced plans to reduce rubber exports by 240,000 tons for the next four months.
Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
Having rejected earlier plans for a new tyre factory in Malaysia, Prinx Chengshan has invested 170.6 million yuan (£19.464 million) in buying at least 433,600 square metres of land in at Tambon Nong Suea Chang, Amphur Nong Yai, and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province in Thailand. According to stock exchange filings dated 25 December 2018, the deal comprises “several plots of land” and will be funded by the company’s recent global share offering.
Prinx Chengshan the only HKEX-listed tyremaker at Tire+
Based in the city of Guangzhou, the Guangzhou International Automobile Exhibition is particularly close to the Chinese off-shore territories of Hong Kong and Macau. Still, despite the show’s proximity to such personal and corporate wealth, Prinx Chengshan unique inasmuch as it was the only Hong Kong stock exchange (HKEX) listed tyre manufacturer at the show.
CITExpo 2018: still room for small-medium Chinese players, though times are tough
Visiting CITExpo in 2018 had the potential to be a gloomy affair. A trade show that has specifically targeted medium-sized tyre Chinese manufacturers as a gateway for raising global interest, the trading environment in major export markets in Europe and North America have not been the most hospitable, with tariffs or anti-dumping duties affecting various product segments. In the UK, we heard from a major Chinese truck tyre importer that business had effectively been put on hold with the announcement that the EU was imposing tariffs in May. Pressure had also been mounting domestically, as the Chinese government moved to bring a halt to production at factories it considered to be too polluting, which led to upstream supply chain problems, as raw materials suppliers to the tyre industry were among those affected.
