In order to meet the market needs, Jiangsu Beiyate Industrial Co., Ltd. decided to wholly acquire the discontinued Suqian Xinyu Tire Co., Ltd. and build a project producing 25 million units/year motorcycle and bicycle tire, etc. by use of the existing site and plants of Suqian Tire and purchasing new equipment and production lines.
With investment of 120 Million Yuan (including 1.05 Million Yuan for environmental protection), the project of Beiyate is located in Siyang Economic Development Zone, Suqian City, covering an area of about 40 mu. In the first phase, it will build the inner tube production line, while the outer tube production line will be built in the second phase. The project is expected to be completed and put into operation at the end of this year with the sales revenue of 250 Million Yuan per year. The project plan includes 6.25 million units of inner and outer tubes for motorcycle, electric vehicle, bicycle and agricultural vehicle respectively. And the main product specifications are 3.00-18, 22*2.125, 26*1.75/2.125 and 13*2 1/2.
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