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
China Tire Dealer magazine has published its top picks for different tire brands among the online sales.. Brands include Dunlop, Michelin, Continental, Bridgestone, Giti, Goodyear, Wanli, Pirelli. Full article (Chinese language)
China produces some 10.8m tonnes of scrap tires annually, growing at 5% – 8% annually. A further 3m tonnes of other rubber scrap adds to the mountain. Under the 13th five-year plan, government is expected to introduce laws requiring mandatory recycling of 100% of this waste
In December, China’s General Administration of Customs set 2016 import tax rates for a series of rubber-related items (see table below) . No. Tariff codes Product name The most favourable State tax rate /% 2016 Provisional tax rate /% 1 40011000 Natural rubber latex 20 10 percent, or 900 yuan / ton, both from low
China’s prestigious 2015 Annual National Science and Technology Awards features two tire industry developments. In the category Technological Invention of the year, scientists from Linglong, Aeolus and Beijing University won 19th prize for fuel-efficient tires with nano-composite fillers. In the category progress Award, scientists from the Highway Research Institute of Beijing won 75th prize for
Petrochem company Lanzhou Petrochemical rubber factory said it is developing production of SBR1723 grade – a TDAE oil-extended e-SBR grade. The company said it has shipped over 1700 tonnes of the material to Goodyear and hopes to increase shipments to 6000 tonnes/year. Source: CNPC news item (Chinese language)
State-owned Sinochem group is in advanced talks to buy Singapore-listed natural rubber processor and trader, Halcyon Agri, according to reports in the Wall Street Journal. Sinochem also owns GMG Global, another Singapore-based rubber company. The WSJ report said Halcyon is worth around USD300m. Halcyon has over 4000 employees. The company owns plantations and also buys
China National Chemical Corporation (“ChemChina”) is buying KraussMaffei Group from Onex Corporation for EUR925 million. Closing of this transaction is subject to anti-trust clearance. This transaction is by far the largest investment in Germany by any Chinese company. ChemChina is in the process of merging its tire operations with the Pirelli operations, following the announcement
Continental’s Shanghai subsidiary has signed a strategic cooperation deal with China Automotive Technology and Research Centre (CATARC). The deal appears to be primarily focused on chassis, braking and powertrain, but CATARC operates one of the very few proving grounds in China authorized to test for EU tire labeling rules as well as having tracks and
On Tuesday (12 Jan), Aeolus issued a short stock market notice updating investors on its financial restructuring. The company said that Aeolus and its parent, China National Chemical Rubber Co., Ltd. Are in the process of planning, “a major capital restructuring plan (重大资 产重组预案)” After the restructuring, the company will be listed on the Shanghai Stock
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