Huasheng teamed up to set up a new company, and Guangrao has another big move?

- Apr 04, 2019-

According to sources, Shandong Huasheng Rubber Co., Ltd., a well-known local enterprise in Guangrao, and Zhejiang Property Chemicals Group Co., Ltd. formally signed a cooperation agreement on March 30. The two companies will jointly plan to establish a new company - Shandong Leading Tire Co., Ltd., Guangrao The party committee secretary Liang Runsheng, the property Zhongda Group and Huasheng Rubber related person in charge attended the scene.

According to the agreement, Huasheng Rubber and Zhejiang Property will use the pilot tires to make a big impact in the Guangrao tire industry. The main business of the new company is the custody of tire business projects, the acquisition of tire assets, centralized procurement and tire sales. Etc. The specific acquisition and custody of the tire project was not disclosed.

"China Rubber" learned that the above two companies are "very active" in the tire industry in the reorganization period. Zhejiang products started cooperation with Shandong Haoke at the end of 2017, and the latter in the company's funds, etc. With the help of the business situation, the production capacity and product structure have improved. In addition, Zhejiang products also entered the bankrupt Ogori tires at the end of last year, becoming the main driving force for Ogori's “return to life”.

As a tire manufacturer, Huasheng Rubber has also made frequent moves in recent years. The company has been renting a factory building of Guofeng Rubber and Plastics, and has also acquired Hengyu Technology and Guofeng Rubber and Plastics a few months ago. The company's debts worth 40 million each, the establishment of the cooperative company indicates its further integration and restructuring.

With a history of 24 years, Shandong Huasheng Rubber Group has a total assets of more than 5 billion yuan, with an annual output of 5 million all-steel radial tires, 24 million semi-steel radial tires and 30 million square meters of conveyor belts.

The company established Lubo Rubber Technology Co., Ltd. in January 2018. Lubo Rubber's total investment of 3.74 billion yuan in the radial tire production line project has been selected into the “Guangrao County Key Projects and Key Projects” for two consecutive years. It will realize the annual production capacity of 5 million high-performance green tires.