Orders double after Nangang Tire’s production capacity expansion

Taiwan tire maker Nangang Tire is expected to see annual revenues of 13 billion New Taiwan Currency in 2017, a 25-percent increase from a year earlier, an official from the company said.

The official explained that his conclusion is based on the prosperous tire market. The price for tires keeps increasing and the company has already receivedmany more orderssince the it expanded production capacity.

The European clients have more than doubled their orders to Nangang Tire, while Japan, a traditional market for Nangang, is expected to consume 30 percent more tires in the coming year.

After the production capacity expansion, Nangang Tire now can produce 17,000 pieces of tires per day compare to the previous 13,000 pieces.

Besides, Nangang Tire has lifted the tire price by 9-12 percent because of the rising price of rubber and otherraw materials.

Nangang Tire saw a 10-percent year-on-year increase in its revenues in January 2017. The company is confident of a 20 percent growth in February and March.

Thus, Nangang Tire expected the first quarter of this year is hopefullynot a slack season although it used to be slack for the tire industry. With the second quarter, a traditionally busy season, coming around, Nangang Tire is looking forward to a prosperous tire market for the entire 2017.