European Rubber Journal reports that the global tire market recovered strongly in 2010, gaining back lost value from the recession and increasing nearly 20% in value. Growth continued in the first half of 2011. The ranking of the world’s largest tire makers remained unchanged with Bridgestone Corp. commanding the top spot over Michelin, Goodyear, and Continental A.G.
September 2, 2011
Tonghua Shuanglong Chemical (China) to build silica factory
CapitalVue China (via Shanghai Securities News) reports that Tonghua Shuanglong Chemical will invest 120 million yuan for construction of a factory that will have an annual production capacity of 20,000 tons of silica.
Construction on the project began construction last month, and the company’s total silica production capacity will reach 36,000 tons upon completion.
Shuanglong Chemical previously invested in a 30,000 ton capacity silica production project in Jiangxi province. The project was slated to start running last month, but inclement weather led the firm to move the date up to November.
The Tonghua-city based firm recorded a 4.45 percent year-on-year increase in net profit to 14.56 million yuan in the first half of 2011, with sales revenue of 60 million yuan, up 13 percent year-on-year.
Shuanglong Chemical was founded in 2000 and listed on the stock exchange last year. It produces white carbon and precipitated silicon dioxide.