Projects of Triangle Tire may reach designed capacity in advance

The projects in which Triangle Tire raised fund through public offering to invest may reach designed capacity in advance.

Products of the two projects are expected to be produced in 2018, and they will enter full production in 2019.

They are the high-performance intelligent all-steel heavy-load radial tire upgrade project, with annual capacity of 2 million tires, and the high-performance passenger car tire high-tech transformation project in Nanhai new area, with annual capacity of 8 million tires.

Moreover, Triangle Tire’s American plant is scheduled to go into operation in 2020, by which new capacity and efficiency will be released to boost the development of the tire producer.

The two projects were constructed in accordance with the standard of Industry 4.0, with the adoption of robots and intelligent manufacturing patterns.

As of end-2016, the first-phase construction of the two projects had been completed for operation, with an investment of 2.32 billion yuan.

Triangle Tire plans to invest 2 billion yuan by the end of 2017 for the second-phase construction.

The procurement contracts for major equipment and automated system have been signed.

So far, Triangle Tire has completed over 85% of the procurement contract and investment plan, and the products will come down the production line in mid-2018.

When the projects go into operation in 2018, Triangle Tire’s passenger car tire capacity will reach 22 million and the commercial vehicle tire capacity will be 7 million annually.

Its overall capacity will top 30 million tires by adding bias engineering tires, radial engineering tires, giant radial engineering tires, and other rubber products.