Yongsheng Rubber plans to buyout Hengyu Rubber plant
Recently, many sources told journalists in Tireworld that Yongsheng Rubber planned to buy out Hengyu Rubber's old plant in Guangrao Shandong Province.
So far, no more details were released to the public.
In October 2018, Shandong Hengyu Rubber company went into bankruptcy, and started to attract investors.
Hengyu Rubber could produce 1,200,000 units/year of full-steel radial tires and 200,000 units/year of bias tyres for engine, owning 30,000 square meters of conveyor belt production lines.
According to the requirements, the acquisition investors should own capital and management capacity, and had no illegal behavior in recent three years.
And Shandong Yongsheng Rubber Group was founded in 1986, one of famous large-scale tire manufacturers in Shandong Province.
An industrial insider said if Shandong Yongsheng bought out Hengyu Rubber, which would be a good news for local rubber industry.
- 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
