Recently, journalists from Tireworld.com.cn learned thatShandongHengfeng Rubber & Plastic Co., Ltd. has acquired 51 % share of Wosen Rubber. The deal has been reached agreement and planned to operate as soon as possible.
Data showed that Wosen rubber was established in April 2007, with 219 million yuan of registered capital. The company mainly produced all-steel radial tire, half steel radial tire, engineering tire, bias tire, solid tire and also owned owned Defen Import & Export Trade Co.,Ltd, which was focusing on international tire trade.
Hengfeng Rubber & Plastics is the largest local tire enterprise and post 1.623 billion dollars of sales revenue in 2015, ranking the 21st in Global Top 75 Tires ahead of Chinese Double Coin Tire, Sailun Tire, Fengshen Tire, Guizhou Tyre, Double Star Tire etc..
In the past ten months, Hengfeng completed 252 million dollars of tire export, and stood the largest tire exporter inDongyingShandongProvince.
Since Deruibao Tire went into bankrupt at the beginning, there have been at least 14 tire companies closed, including Beijing First Capital Tire, Shandong Fulltour tire etc.. It seems that winter is getting colder and colder.
