Expanding Xingda grows rubber reinforcement sales

Xinghua City, China – Rubber-reinforcement materials manufacturer Xingda has reported 11% year-on-year growth in sales volume in the first half of 2023.

Among the overall sales, steel cord grew by nearly 12%, bead wire grew by 6%, and hose wire grew by 12%, stated Xingda, which operates production bases in China and Thailand.

In 2022, Xingda said its sold 1.055 million tons of steel wire products, commanding a market share of over 30% in China and 20% in the international market.

In the first quarter of 2023, Xingda launched the expansion of its production facility in Shandong, China.

On completion, the project will bring annual output there to 280,000 tons of steel cord and 100,000 tons of bead wire.

Phase II of an expansion project in Thailand “will get underway soon” towards delivering an annual output of 250,000 tons of steel cord and 100,000 tons of bead wire.

The Thai site, explained the company, is set to “become a production base for high-end products exported to Europe and North America.”

According to Xingda, it has built a global network of branches and technical service centres in Europe, the US, India, Japan, South Korea and Brazil.

The statement also highlighted the company’s progress in establishing logistics and warehousing systems in the US, Canada, Indonesia and Europe.