Whether it is admitted or not, global tire demand, especially the demand for specialty tires, is growing rapidly. In the last quarter, many foreign tire companies are frantically expanding tire production capacity.
GRI invests over 100 million
According to foreign media sources, Global Rubber Industry Co., Ltd. (GRI) has invested US$25 million (approximately RMB 160 million) in its hybrid plant to increase the company's production capacity. The plant is located in Sri Lanka and currently has two production lines in operation. It is expected that after the investment is completed, the plant will have six mixed production lines into production.
Regarding this investment, GRI executive director Ananda Caldera stated that the factory set up by GRI in Sri Lanka has introduced the most advanced production system and is equipped with high-tech machinery from Germany for mixing and grinding. In addition, as a green tire company, GRI Sri Lanka plant also uses a fully automatic powder feeding system for carbon black to prevent dust particles from being released into the atmosphere. "As we increase our tire manufacturing capacity, we will also increase the mixing capacity of solid tires and pneumatic tires," Caldera finally emphasized.
It is reported that the mixing line currently being installed will be completed and put into production in mid-2022.
According to the data, the special tire manufacturing plant of Global Rubber Industry Co., Ltd. (GRI) in Sri Lanka officially started production on January 25, 2018. Among them, agricultural tires accounted for about 70% of its ex-factory products, and the remaining products are pneumatic construction tires and Forklift tires.
BKT expands agricultural production capacity
Coincidentally, BKT Tire (BKT) has also expanded its investment in its special tire production capacity. On November 4, 2021, some foreign media said that BKT has invested in all of its factories to expand production capacity, update equipment and improve quality. The equipment update has helped BKT improve the quality of its products, allowing it to achieve revenue growth with high-quality products. Therefore, in September of this year, BKT opened a new plant in Aurangabad, India-producing small and medium diameter agricultural and industrial tires.
In addition, BKT has also expanded its flagship factory in Buji, India, adding a super solid tire factory, a super-large OTR factory capable of producing 63-inch tires, and doubling the production capacity of the carbon black factory. .
It is also reported that BKT will also open a new agricultural radial tire factory in April next year. Through continuous expansion of production capacity and production base, BKT will have the world's largest agricultural radial tire production capacity.
In addition to the new production base, BKT has also invested in state-of-the-art auditoriums and training centers in the Mumbai headquarters and Bhuj factory. According to reports, the 57-inch OTR tires currently used by BKT for rigid transport trucks are currently being tested in India.
Agricultural tires performed well in the third quarter
According to industry insiders, in the third quarter financial report, agricultural tires performed relatively well, thus strengthening tire companies' confidence in investing in special tires. Among them, Michelin relied on the strong rebound in agricultural machinery tire sales in the third quarter of this year to achieve a 1.3% increase in overall sales; and Trelleborg achieved business in the third quarter relying on its sales in agriculture, forestry, and forklift tires. 25% year-on-year increase in profit. In the last two months of this year, spurred by the overall good sales, some tire companies began to substantially increase their investment in special tire production capacity.
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