Guangzhou Fengli Rubber & Tire Co., Ltd. announced on March 25 that the name of the company will be officially changed to “Wanli Tire Corp. Ltd.”.
Established in December 2004, Guangzhou Fengli Rubber & Tire Co., Ltd. is a state-owned company jointly founded by Guangzhou Wanlead Group Co., Ltd. and Guangzhou Huanan Rubber & Tire Co., Ltd.
Fu Shoujie, board chairman of Wanlead Group, said the name change would be a new milestone for the development of Wanli tires and showed the determination as well as confidence of the company in developing the Wanli brand and preparing for the company’s IPO.
Guangzhou Fengli Rubber & Tire Co., Ltd. produced the first high-performance tire on Sept. 15, 2006. Today, the company has a registered capital of 445 million yuan, completed investment of 1.3 billion yuan, and the tire capacity is six million annually with output value of over one billion yuan.
The company has expanded its capacity since 2014 to build a high-performance green secure semi-steel radial tire project with expected annual capacity of 10 million. The project is expected to come on stream this year.
Wanli Tire says it will initiate internationalized development and take a leading role in China’s manufacturing industry.
