Doublestar has held a ceremony to celebrate the start production at its Cambodia tyre factory. The factory’s total investment is about US$200 million. It is a joint venture between Doublestar and Zhongqi Holding Group. At total production levels, it will be able to produce 7 million semi-steel radial tyres and 1.5 million full-steel radial tyres per year.
It is not easy for tyre businesses to take away something positive from the past year. In retrospect, Toyo Tires came to the conclusion: “2020 was anything but a glorious year for the tyre industry. A slump in new registrations and also double-digit declines in the replacement market business. There were no dealers and no manufacturers who did not have to struggle with losses in the past year.” Nevertheless, Toyo Tires Europe is starting the new year “confidently”, according to the Germany-based European headquarters of the Japanese tyre manufacturer.
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