Ahead of Chinese New year, Aeolus held a large meeting for over 1000 staff, workers and their families on 31 January. Company chairman Wang Feng (王锋) handed out some prizes and repeated his declaration that Aeolus is seeking world class technology and an international brand success. Wang’s speech was titled, “There are difficulties, there is
Following a severe downturn in August and September, monthly exports of Chinese tires to the United States may have hit bottom and appears to be recovering. However, sales in 2015 are likely to be significantly down on 2014. In the first nine months of 2015, exports of passenger car tires to the US were down
Guizhou Tire (quoted as Luntai A, stock No. 000589 on the Shanghai Stock exchange) has told investors that is expects to report a loss of RMB 240m (USD36m) for the 12 months to December 2015. This compares with a profit of RMB 290m in the previous year. The company blamed the loss on four factors:
In an era of falling prices, reduced demand and greater competition from online and other channels, Chinese tire retailers are struggling. ChinaTire Dealer has some recommendations, using America’s Big-O stores as an example. Source: China Tire Dealer
As car ownership has grown in China, so has the challenge of end-of-life (EoL) tires. A People’s Congress meeting in Zhejiang Province suggested that China produced around 10.8m tonnes of EoL tires in 2013 and this is expected to grow at 8% – 10% annually to reach 20m tonnes by 2020. Handled correctly, these can
China’s Ministry of Industry and Information Technology (MIIT) has named 85 projects to acts as flagship projects for the renewables and recycling sector. Among them nine are related to end-of-life tires. 1, Rubber & Plastic Technology Co., Ltd. (橡塑科技有限公司 ) Jiangsu Jiang Victoria – waste tire recycling projects. 2, Haitai Tianjin Environmental Protection Technology Development
A three-person delegation from the International Rubber Study Group (IRSG) visited Beijing to meet with representatives of the China Rubber Industry Association (CRIA) on 28 January. Dr Stephen Evans, secretary-general of the IRSG met with Xu wenying, secretary-general of the CRIA. The parties discussed the imports of natural rubber, synthetic rubber overcapacity and the new
In a stock Exchange announcement, Hainan Rubber said it expects to announce an annual operating loss of RMB9850m (USD1500m) for the 12 months to December 2015, compared with a profit of RMB22.4m a year ago. The company blamed the fall in the price of rubber. Source: Stock Exchange announcement
TDW, a Guangrao-based internet company has set up a information and sales portal for commercial vehicle tires at http://www.tdw360.com/ . The company was set up in October 2014 and aims to provide consumers with tires in the industrial, OTR, mining and truck segments. TDW stands for Tire that Drive the World, in English, or Tai
China Automotive News interviewed Wang Feng (王锋). He said Aeolus wants to be the top brand among China’s tire makers. He said China has hundreds of tire makers and thousands of tire brands, but the industry has not reached maturity. Consolidation is a natural consequence of industrial upgrading. Asked about the future integration with Pirelli,
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