Double Coin Holdings has decided to transfer its output capacity, 500,000 truck tires, from Shanghai to Chongqing.
Not long ago, the truck tire branch of Double Coin in Shanghai was closed, which raised industry insiders’ concern and question about its output capacity.
In March, Chu Zhengyu, party secretary of Double Coin Tires, went to Chongqing municipality with a working group and discussed the production and business operation of the company’s Chongqing branch with officials of Chongqing Economic Development Zone.
Chu said Chongqing base would be the primary base of Double Coin Holdings in manufacturing tires in the future. The company will increase investment and expand the plant in Chongqing.
Officials from Chongqing Economic Development Zone said they would provide all-round services and promote Double Coin’s capacity transfer project in Chongqing, making effort to boost Double Coin’s annual capacity to 2 million tires.
Double Coin’s Chongqing base will be a leading firm in the municipality and the company and local government have been working together in building the “first-class tire production base in the west”.
As planned by Double Coin, its equipment and output capacity in Shanghai plant would be gradually transferred to Chongqing municipality and Rugao city of Jiangsu province.
