Sinochem New Network News: Recently, China Xingyuan Tire Group announced that it will invest US$114 million to expand the production capacity of large-scale engineering equipment radial tires at the Losada Tire Factory in Portugal. The company said the investment includes funding for the expansion of on-site R&D laboratories dedicated to engineering tires. The new capacity will be adjacent to the agricultural radial tire expansion unit put into operation in 2017, and production is expected to start before the end of this year.
Xingyuan's production workshop will be equipped with state-of-the-art tire building machinery and automation equipment to provide high-end radial tires. This project will produce tires for construction machinery tires and port handling equipment. Christian Koetz, head of Xingyuan Tire Division, said: "Due to this investment and its new capacity, we will continue to promote the growth strategy of the tire business. This investment strengthens our market competitiveness in Losada and will The plant became a solution support center for large-scale engineering radial tires."
From 2016 to 2017, Xingyuan increased the production capacity of its agricultural radial tires at its Losada plant, which is in line with its strategy of returning to the tire industry. The port handling equipment tires of this expansion are new members of the Ma brand portfolio, while the engineering tire series are currently being contracted by a third-party company in Europe. In addition to the construction machinery tire production line, Losada produces approximately 18 million passenger tires per year.