Chinese Court appoints administrator at financially troubled Yongtai

Yongtai Group, one of China’s largest tire makers, entered administration on 16 July with law firm Dentons (Jinan) appointed its administrator by local court.

According to a document published by Shandong Dongying Intermediate People’s Court on 4 August, the first creditors’ meeting will be held on 15 October.

Yongtai was set up in 1996 in Dongying, Shandong province. It has annual capacity of 1.5 million units truck and bus tire and 6 million units passenger car tires, said local reports.