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Mar 18, 2015

TIRES MAKER * China: Shandong Deruibao Tire's “financial constraints”

* Shandong - Tire maker files for government financial aid

-- Shandong Deruibao Tire Co. Ltd., producer of the Deruibao and Faralong brands, has filed for government-coordinated restructuring due to “financial constraints,” according to the local municipality government... Shandong Deruibao was set up in 2009 in Guangrao county, Dongying, Shandong Province. It registered sales of $992 million in 2013, which put it No. 34 on Tire Business’ top 75 tire makers’ ranking... The company, a unit of Shandong Haolong Group, produces passenger, light truck and medium truck radials, with a declared annual capacity of 33 million units. Shandong Deruibao also is a private brand supplier to a number of U.S. distributors... Shandong Haolong Rubber Tire, another tire arm of Shandong Haolong Group, is among the petitioners in the US anti-dumping investigation and was given a 28-percent rate in the preliminary determination...(Photo: Shandong Deruibao Tire Co. Ltd. headquarters: Haier Road Qingdao, Shandong. China)  --  Guangrao, Shandong, China - Tire Business, by Jane Ho - March 16, 2015

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