Former Alliance President, Manny Cicero is saying he is now CEO at Triangle Tire’s US subsidiary. Cicero is a true industry veteran, having set up Bridgestone’s OTR tire business in the 2000s period, then taken over as CEO of Denman Tire Corp and most recently as President of Alliance Tire Americas Inc. According to industry
China’s stock market regulator has approved the application for an IPO submitted by Triangle Tire. The Chinese-language preliminary prospectus was issued in June 2015 and is available for public download (see link below). The preliminary prospectus is essentially a re-hash of the document published in mid 2014, adding little new information to that document. It
Jack Zhou, a tire salesman at Shandong Corea Tyre Co. Ltd, a mid-sized tire maker based in Dongying City, has published a series of articles outlining the Chinese tire industry. The articles on LinkedIn are titled: Where is the future for Chinese tire factories–in the eye of a sales rep Tips to tell the product
Chairman of Zhongce Rubber Group Chen Jinrong has given an interview to China Rubber Journal. The article says tire profitability in China has fallen 31% in the first 11 months of 2015; average profit margin is down 1 point to 4.35%. Nine of the companies in the CRIA list fell into loss in 2015. Some
A report on Chinese automotive website suggests that up to 80% of Chinese tire makers are at risk of financial collapse. The article refers to the collapse of Wosun and its subsequent acquisition by Shandong Hengfeng. It says the industry is relying on serial bank loans to fund operations; meanwhile some export orders are being
As part of a National reform programme, Dongying City plans to implement a supply-side structural reform, focussed on tires, said a report in the Dongying Daily. The aim of the programme will be to close factories using out-dated production methods; clear up idled factories with the intention of speeding up economic growth. In 2016, these
Sales of commercial vehicles in China fell in 2015. Total commercial vehicle sales amounted to 3.451m units, a decrease of 9% on 2014. Within this truck sales were down 10.3% while passenger transport vehicles were down 1.9%. As with the car sales, much of the decline was concentrated in the first five months of the
CAAM has released data on 2015 vehicle production. Total sales of cars amounted to 21.146m units, up 7.3% on 2014. The category of SUVs showed growth of over 50% YoY. Category Number Growth on 2014 Total 2015 21,146,300 7.3% Sedans 11,720,200 -5.33% SUV 6,220,300 52.39% MPV 2.106,700 10.05% Cross-over 1,099,100 -17.47% Engine size 1.6l
A report in China Chemical Industry News says China’s synthetic rubber industry is in over-supply after a capacity boom. Capacity has increased as follows: Year Capacity in China (million tonnes) 2000 1.330 2005 1.632 2009 2.5 2010 3.1 2014 5.18 Total global capacity in 2014: 18.92 In the same period the number of suppliers has
In a lease-back deal South China Tyre (Wanli) is to acquire equipment worth around RMB100 million from TST Tianjin Saixiang Technology Co., Ltd. The equipment will be bought by Guangzhou Yuexiu financing limited, who will lease it to Wanli. The contract enters into force in November 2016 and is worth a total of RMB105.2million. The nature
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