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Cheng Shin Ranked as World's No. 10 Tire Manufacturer in 2009

2010/12/22
Taipei, Dec. 22, 2010 (CENS)--The Taiwan-based Cheng Shin Rubber Industries Co., the supplier of globally well-known Maxxis-branded tires, posted sales revenue of US$2.723 billion in 2009, ranking No.10 for the first time among the word's top-list of tire manufacturers rated by Rubber & Plastic News by annual revenue.

Originally the 11th-largest tire maker in the same ranking released by Rubber & Plastic News in 2008, Cheng Shin effectively advanced one notch to squeeze into the top-10 maker list one year later with rising sales revenue. Noteworthily, the firm's owned brand Maxxis has also been officially named one of Taiwan's top 10 international brands for the eighth consecutive year in 2010.

Trailing the 9th U.S.-based Cooper with a margin of only US$56 million in sales revenue for 2009, Cheng Shin, which has actively expanded its output in Taiwan, mainland China, Vietnam and Thailand now, is expected to outpace the rival in 2010 at the earliest.

The firm indicated that the payoff of its long-time efforts to expand output, develop owned brand, explore new markets and join automakers' supply chains on an OEM (original equipment manufacturing) basis has helped infuse significant momentum into its business growth over the past four years, when the firm's sales revenue almost doubled to US$2.723 billion in 2009 from US$1.481 billion in 2006.

The firm also noted that its tires have been exported to over 170 different countries of the world now, with internationally large-sized automakers, such as Shanghai GM, Ford, Chrysler and Shanghai Volkswagen, already on its OEM customer list. Presently, the firm claimed, Maxxis has led China's tire market.

Also, the firm has ambitiously explored emerging markets, including Dubai, Brazil, Panama and India, by setting up operating offices there, in a bid to build a more solid foundation for positioning itself among the world's top 10 tire makers.

Worlds Top 10 Tire Brands by Revenue in 2009

Ranking

Brand

Country

1

Bridgestone

Japan

2

Michelin

France

3

Goodyear

The U.S.

4

Continental

Germany

5

Pirelli

Italy

6

Sumitomo

Japan

7

Yokohama

Japan

8

Kumho

Korea

9

Cooper

The U.S.

10

Maxxis

Taiwan

Source: Rubber & Plastic News

(by Steve Chuang)
 
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