26 Sep 2024
Move involves two major investments for tire manufacturing and tire materials production in Qingdao
Shanghai, China – Chinese tire major Sailun Group has combined two local subsidiaries as part of its move to speed up ongoing projects in Dongjiakou, nearly Qingdao city, eastern China.
The decision involves Qingdao Sailun’s Dongjiakou subsidiary, an ambitious €2.1 billion tire manufacturing project to ultimately produce over 30 million units of tires per year (ERJ report), and Qingdao Sailun New Materials, an equally impressive project to make 500 kilotonnes per annum (ktpa) of functional new materials for tires. (ERJ report)
With both projects being completed in Dongjiakou, Sailun announced on 24 Sept that it is merging the two subsidiaries to optimise the management structure and better leverage project synergy effects.
Post-merger, the two companies will operate under Sailun Dongjiakou.
The Sailun announcement did not provide updates on the progress of each project, which were initially slated for completion in 2027.
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