Double Coin Tire Accelerates Promotion of Integration and Restructuring
As Shanghai Huayi Group Corp. Ltd. got listed in the A-share market, Double Coin Tire has accelerated the promotion of integration and restructuring, capacity transfer, employee arrangement, Thailand market program, overseas marketing, and other internal works.
As one of its strategic reform measures, Double Coin Heavy-duty Tire was closed down and the capacity was transferred smoothly.
The annual capacity of Double Coin’s subsidiaries in Rugao, Jiangsu province, and Chongqing municipality has totaled 5.5 million tires so far, satisfying market demand.
Transferring industrial tire building machines and vulcanizing machines is one of the construction programs of Double Coin’s Rugao subsidiary. The program was initiated on April 20 and the first industrial tire was produced on June 10.
The preliminary works of Double Coin’s Thailand branch, including industrial process design, equipment and staff deployment, and product position and design, have been completed.
In addition, Double Coin plans to establish an overseas sales company and develop international market together with domestic distributors.
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