Capacity expansion drives up Triangle’s profits

Weihai, Shandong – China’s tire maker Triangle estimates its unaudited net profit in 2019 will be €112 million (850 million yuan), up 76% from 2018. 
 
Net profit less non-recurring items during the year will jump by 78% to €93 million, said a company announcement in January.
 
“New capacity and optimised product portfolio has generated good market results,” said the announcement.
 
Phase two of Triangle’s truck and bus tire facility relocation project in Weihai, Shandong came on stream in early 2019, an extra million units of annual capacity.
 
Phase two of the company’s passenger car tire plant upgrade project in the city, with 4 million units of additional annual capacity, also started operation in early 2019.
 
Triangle sold 14.9 million units of passenger car tires in 2019, up 26% from 2018, said a January post on the company’s website. These include 4 million units sold to China’s replacement market, representing a 21% surge year on year.