Car tyre production starts at Jiangsu General’s Thai and Wuxi plants
On 28 June, Jiangsu General held commissioning ceremonies for its Thailand and Wuxi car tyre plants, involving a total production capacity of 16 million semi-steel radial tyres.
On 28 June, Jiangsu General held commissioning ceremonies for its Thailand and Wuxi car tyre plants, involving a total production capacity of 16 million semi-steel radial tyres.
Hubtrac Tires Europe’s sales division has raised its sales forecast for the third quarter of 2024. According to the company, executives of which Tyres & Accessories met with during the recent Tire Cologne exhibition, the revision is primarily driven by “the strategic geographical advantage of its top-tier production plant in Serbia and the recent sharp increase in shipping prices from China and Southeast Asia to Europe”.
Jiangsu General said the Thailand plant’s construction project (Phase II) has been modified. Specifically, the tyre manufacturer has increased the production capacity of semi-steel radial tyres at overseas bases and cancelled the plan to expand the production capacity of full-steel radial tyres.
Tyrexpo Asia 2024 in Bangkok attracted more than 4,000 attendees, with 92 exhibitors and over 150 tyre and accessory product buyers hailing from 72 countries. The attendees encompass a mixture of distributors, retailers, importers, logistic distribution, transportation and supply chain companies. It was the first dedicated Tyre & Accessories Equipment show staged in Thailand, by the event organisers, Informa Markets. The event was jointly opened by guest of honour, Captain Thammannt Prompau – minister of agriculture & cooperatives Thailand, Nakorn Tangavirapal – governor of the Rubber Authority of Thailand and Patrapee Chinachoti – co-chairman of Informa Markets Thailand.
In 2023, Jiangsu General’s revenue was approximately 5.06 billion yuan (approximately £540 million; €640 million), with a net profit of 220 million yuan (about £ 24 million; €28 million). Compared with the net profit of approximately 17 million yuan (about £1.8 million; € 2.16 million) in 2022, the company’s profit has increased more than tenfold in the past year.
The U.S. Department of Commerce has announced preliminary findings in its investigation into whether truck and bus tyres imported from Thailand are selling in the United States at unfairly low prices. This comes after the USA saw a significant increase in these tyre imports, which more than doubled in quantity over two years, reaching a value of US$1.46 billion in 2022.
TyreXpo Asia 2024 is currently taking place in Bangkok, and the organisers have presented the event’s official Gold Sponsor – the Rubber Authority of Thailand (RAOT), the body overseeing the nation’s rubber sector under the guiding vision of “rubber management for a sustainable future.”
The organiser of TyreXpo Asia 2024 in Bangkok informs us that the show’s opening ceremony will take place at 10am on Wednesday 15 May, instead of at 1:30pm as previously stated. Captain Thammanat Prompao, Minister of Agriculture and Cooperatives Thailand, and Mr Nakorn Tangavirapat, Governor of Rubber Authority of Thailand (RAOT), will attend the opening ceremony as honoured guests.
TyreXpo Asia, which takes place in Bangkok next week, provides Davanti Tyres with its first opportunity in 2024 to meet with new and future customers at a trade fair. But for those unable to travel all the way to Thailand, Davanti’s next show presence will be a little closer to home. Davanti Tyres has announced it will exhibit at The Tire Cologne in Germany this June.
Sumitomo Rubber Industries, Ltd. (SRI) has commenced a collaborative research venture with Khon Kaen University, focusing on advancing techniques in rubber tree tissue culture. The Falken tyre brand manufacturer formalised this agreement at a signing ceremony held at the university’s campus in Thailand.
This month, Continental commemorates 15 years since the inception of its tyre business in Thailand and five years of tyre production at its Rayong plant. With an investment of 250 million euros in the eastern region of the country, the manufacturer has established a facility that employs 900 local workers and has annual production capacity of 4.8 million passenger and light truck tyres, alongside motorcycle tyres, and caters to both original equipment and replacement sectors.
TyreXpo Asia Bangkok 2024 is inviting the industry to engage with “over 150 exhibitors and 250 tyre brands” when it takes place at BITEC Hall 98, Bangkok om Thailand from 15 – 17 May 2024.
Prinx Chengshan Holdings Limited has released its financial results for the twelve-month period ending on 31 December 2023, referring to these as “the best results” in the company’s history. Operating revenue increased to RMB 9,950 million (£1.09 billion), marking a 22% year-on-year rise, while net profit surged to RMB 1,030 million (£113.32 million), a 162.4% increase compared to the previous year. Earnings per share reached RMB 1.62, up by 161.3% year-on-year, and EBITDA rose to RMB 1,710 million (£118.14 million), reflecting a 102.4% increase year-on-year.
The Fortune brand is a relative newcomer in the UK commercial vehicle tyre market, but behind the range is one of China’s largest and fastest-growing tyre makers. Prinx Chengshan produces the entire Fortune truck tyre line-up in a state-of-the-art facility in Chonburi, Thailand, and recently invited distribution partners from the UK and Europe to see the technology behind this Industry 4.0 plant for themselves. This visit also served as an opportunity to forge stronger business ties as well as to present the latest products within the Fortune portfolio.
Linglong Tire is relocating the production of truck tyres for the European market to its newly inaugurated factory in Serbia from their previous production base in China and Thailand, Tyrepress sister website Reifenpresse reports. According to the Chinese manufacturer, the Serbia plant is “one of the most modern tyre factories in the world.” With four new tyre series and a total of 47 new products or product sizes, the product range includes truck tyres for all purposes, all of which were “developed specifically for the European market.” Serbian president Aleksandar Vučić told Chinese media that Linglong could become the country’s “fifth or sixth-largest exporter” thanks to the new plant.
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