2023 was a year of rapid growth for Sentury. The tyre manufacturer’s annual report showed that its revenue and net profit reached 7.84 billion yuan (about £860 million; €1 billion) and 1.37 billion yuan (about £150 million; €170 million), both have achieved a growth of more than 20 per cent compared with 2022.
Another investment for China’s Guizhou Tyre. Only a couple of months after announcing plans to lift its Zhazuo factory’s annual OTR tyre capacity by 380,000 pieces and increase investment in its plant in Vietnam by US$58.08 million, the company says it will also invest RMB 300 million (£33.5 million) in a new solid tyre product at the Zhazuo site.
On its 10 November board meeting, Aeolus approved a project with a total investment of 610 million yuan (about 73.12 million pounds, 82.93 million euros) at its manufacturing base in Jiaozuo, China. It is reported that the tyre company plans to increase the annual production capacity of 80,000 tyres through reconstruction, including giant tyres and engineering radial tyres. The construction period is expected to be 18 months.
Despite a company restructuring that includes the closing down of the private joint-stock company (PJSC) Rosava, the Rosava factory in Bila Tserkva, Ukraine is currently gearing up to begin production of 19-inch tyres following the installation of new plant equipment.
Nokian Tyres is increasing production capacity for passenger car tyres at its Nokia, Finland factory by approximately 30 per cent.
A total of around 35 billion yen (£234.2 million) will be invested in increasing production capacity at Toyo Tire & Rubber tyre plants in Malaysia and the USA.
Bridgestone has announced an additional investment in its Wilson tyre plant in the USA. The passenger car and light truck tyre making facility in North Carolina will receive a new, state-of-the-art rubber mixer under a newly-announced US$180 million investment that will also facilitate the introduction of more innovative manufacturing processes and technologies. This investment is in addition to the $164 million expansion announced in January 2016.
When Goodyear Tire & Rubber announced plans last month to close its Philippsburg tyre plant in Germany, the company gave increasing demand for larger rim diameter tyre sizes – and a lack of infrastructure for producing these in Philippsburg – as a justification for the decision. Rather than invest in new equipment for the factory, Goodyear has decided to increase capacity for larger tyre sizes elsewhere in the world. Today, the tyre maker announced it has broken ground on a US$485 million expansion of its facility in China’s Pulandian district. Goodyear chairman, chief executive officer and president Richard J. Kramer took part in a ceremony with Lu Lin, deputy mayor of the city of Dalian.
The Italian tyre brand Momo Tires has signed a contract to manufacture Momo tyres “in Europe”. According to the company, the new partnership includes the production of three brand new models, along with an innovative “four season” tyre to complete the line-up. However, no further details of exactly where the tyres will be produced have yet been released. In answer to questions from Tyres & Accessories, Momo representatives simply said they will publish the name of the producer and the factory soon, which could suggest it is a manufacturer with more than one factory.
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Sentury Tire
Aeolus