On December 19, Qingdao Sentury Tire Co., Ltd. considered and approved the proposal to invest 522.59 million Euros (about RMB 374.58 million) in the construction of 12 million high performance car and light truck radial tires per year in Spain.
This is an important step for Sentury to implement the "833plus" strategic plan and further enhance the overall competitiveness and profitability of the company.
Sentury's "833plus" strategy is to eventually form 8 digital tire manufacturing bases (3 in China, 2 in Thailand, 1 in Europe, Africa and North America), 3 global R&D centers (1 in China, 1 in Europe and 1 in North America) and 3 global user experience centers in the next 10 years or so. Plus means the opportunity to acquire a world-renowned tire manufacturer.
The project is located in the autonomous region of Galicia, Spain, and will be built with its own funds and implemented by Sentury Tire (Spain) Ltd. which is 100% owned by Sentury (Hong Kong) Trading Co.
The project will take 36 months to build and is expected to have a production capacity of 6 million tires by 2024 and 12 million tires by 2025.
The project in Spain is based on the company's self-developed intelligent manufacturing system and the experience of the Thailand base, combined with the development trend of the global tire industry and the actual situation of the company, and is expected to be the first intelligent tire factory built by a Chinese tire company in developed countries in Europe and America after the project is completed.
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