115 tire companies disappeared in two months
Recently, Shengtai Group, located in Guangrao Shandong Province, came across two awkward lawsuit.
The company suited two companies for defaulting on the payments for goods, but it is founded that the two company has canceled registration, and the lawsuit couldn't move on.
According to incomplete statistics by Tireworld, there were 115 tire/rubber companies applied for registration cancellation between September to October, which were mainly tire sales, tire exporters, tire traders etc., including Shandong Yokohama Sales Company and Guangrao Lifeng Tire Co.,Ltd..
Journalist in Tireworld found that tire company numbers of cancelling registration surged 200% to 300% in 2019, compared to the same period of 2018.
With China's economy continuing declining, there would more and more tire companies collapsing and disappearing, a tire sale agency said, who has canceled registration already.
Following is the list of 115 companies cancalling registration (in Chinese):
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
