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Nankang and Federal’s cumulative operating revenue declined

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WikiTravel

In the first week of August, Taiwanese tyre manufacturers Nankang and Federal successively released operating data for July 2022.

Nankang’s operating revenue in July was NT$660 million (about £18.22 million; 21.58 million euros), down 10.8 per cent from NT$740 million (about £20.42 million; 24.2 million euros) in the same period last year. From January to July, the tyre maker’s operating revenue was about NT$4.72 billion (about £130 million; 115 million euros), down 3.08 per cent year-on-year.

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  1. Nankang Tyre took over “management rights” of Federal in Q4 2021
  2. Taiwan-based tyre manufacturers raising prices
  3. Nankang employee arrested for alleged kickbacks
  4. Groundbreaking held for Federal Tyres’ newest factory
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Nankang Tyre took over “management rights” of Federal in Q4 2021

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According to Federal Corporation’s 2021 annual report, which was published in mid-May 2022, on 15 October 2021, “major shareholder Nankang Rubber Tire Corp. Ltd. Nankang Rubber Tire Corp., Ltd…called an extraordinary shareholders’ meeting to obtain the management right[s].” Federal and Nankang representatives have been contacted by Tyres & Accessories for comment.

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  1. Taiwan-based tyre manufacturers raising prices
  2. Nankang employee arrested for alleged kickbacks
  3. Groundbreaking held for Federal Tyres’ newest factory
  4. Fire stops production at Federal’s Chungli tyre plant
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Fire breaks out at Federal’s Taiwan tyre factory

Screenshot from local media coverage

On the evening of 13 June 2022, a fire broke out at the tyre factory of Federal Corporation (formerly known as Taifeng Tire) in Zhongli City, Taoyuan, Taiwan. Black smoke from the fire was visible several kilometres away, according to local news reports.

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  1. Fire stops production at Federal’s Chungli tyre plant
  2. Maxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
  3. Groundbreaking held for Federal Tyres’ newest factory
  4. Maxion Wheels: Local sources say Spain plant out of action
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Lin Junying becomes general manager of Nankang Rubber Tire

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Nankang Rubber Tire Corp. Ltd. has announced that it has completed the re-election of directors and appointed Lin Junying as its general manager. According to Taiwan media reports, Lin Junying is the eldest daughter of Lin Xuepu, the deceased honorary chairman of Nankang and also an amateur racing driver.

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Kenda wins Taiwan national quality award

Kenda

Kenda has won the “Best Practice Award” for manufacturing quality during the 26th National Quality Awards in Taiwan. The award recognizes businesses that demonstrate high quality management and is the only award for business quality issued by the Executive Council in Taiwan. Kenda was one of just 15 to win the award.

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USA to introduce antidumping, countervailing orders on PLT tyres from 4 countries

The United States International Trade Commission (USITC) has determined that passenger vehicle and light truck (PLT) tyres imported from Korea, Taiwan, and Thailand are being sold in the USA at prices that materially injure the local tyre industry. In addition, the U.S. Department of Commerce has determined that Vietnam’s government is subsidising PLT tyres that are then sold in the USA at “less than fair value.”

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USA approves anti-dumping duties on tyres from 4 countries

Anti-dumping duties as high as 98% may be applied to passenger vehicle and light truck tyres entering the USA from South Korea, Taiwan, Thailand and Vietnam. The U.S. Department of Commerce announced on 30 December that it will instruct U.S. Customs and Border Protection to collect cash deposits from importers of these products.

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Maxxis re-appoints Dr Wally Chen as chairman

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Former Maxxis International president Dr Wally Chen (pictured) is now Maxxis/Cheng Shin chairmanMaxxis International

Former Maxxis International president Dr Wally Chen is leaving retirement to assume the chairmanship of the company. Dr Chen, who oversaw Maxxis’ rise to the ranks of the world’s top 10 tyre companies, will assume the chairmanship effective immediately following a vote by the company’s board of directors at a recent meeting. He replaces former Maxxis/Cheng Shin chairman Robert Lo (pictured).

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China Synthetic Rubber considering India location

Taiwan-based China Synthetic Rubber is considering investing 10 billion rupees (126 million euros; £110.9 million; US$146.8 million) in a carbon black manufacturing facility in Gujarat, India. According to the Financial Express, the company has identified potential locations in the chemicals and petrochemicals investment region for the proposed project.

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Kenda buys Starco

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Taiwan-based tyre manufacturer Kenda has purchased Starco Europe. Announced on 2 October, the move is described by Kenda as “a good cultural, organizational and strategic fit” for which both companies see “significant long-term opportunities”. Kenda has been a Starco supplier since 1982. Over the last 12 months a series of meetings determined a clear willingness from both Kenda and Starco to take the partnership to another level. Starco does not plan any organizational changes or redundancies related to the acquisition.

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Related news:

  1. Pirelli truck tyres separating and merging with Aeolus/ChemChina
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Fire stops production at Federal’s Chungli tyre plant

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Federal Corporation reports that production at its main factory in Chungli, Taiwan has been halted due to a fire at the site on 17 January. Warehouse facilities were damaged during the blaze, however the Chungli plant’s manufacturing facilities were unaffected and Federal confirms there were no casualties.

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Taiwan-based tyre manufacturers raising prices

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The leading Taiwanese tyre manufactures are reportedly planning to raise prices by between 8-12 per cent during 2017. According to local news reports, the price hike is a reaction to the jump in synthetic rubber and natural rubber prices.

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Interstate launches three new winter tyres

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Interstate Tire & Rubber Co. has expanded its winter tyre product offering with the addition of over 100 new sizes and the release of three new product lines. According to the company, the total winter tyre range offers now 12 different lines with over 310 unique sizes.

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Mixed results in budget SUV tyre test

German magazine Auto Bild Allrad has published a summer tyre test for compact SUVs. Ten size 235/55 R17H/V/W tyres were tested on a VW Tiguan, and what sets this test apart from others is that all candidates come from either the People’s Republic of China or Taiwan. While all tested tyres delivered performance below the Continental CrossContact UHP reference tyre, the Goodride SA-37 Sport, Infinity Enviro, Delinte Thunder D7, Sonar SX-9, Star Performer SUV-1 and Nankang NK Comfort NK 605 were all rated ‘satisfactory’.

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Interstate now producing tyres in Taiwan

Interstate Tires has confirmed that it is offering a “complete range” of tyres produced in Taiwan. As of February 2015, over 110 passenger and SUV tyres are now available from the Taiwan factory. According to Interstate representatives, there is now growing demand for “made in taiwan” tyres and there is growing number of tyre distributors […]

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