Investments of the World Tire Magnates Hit a New High Record
The world tire magnates are becoming more interested in the investments with a total investment of 9.7 billion dollars in last year which hits a new high record in history. In 2010, at least 16 tire factories were built in tire industry (excluding China), and 370,000 more tires are manufactured every day, among them, 325,000 tires are for passenger cars and SUVs. Meanwhile, three old factories were closed and lead to the tire production reduction of 80,000 every day. The investments mainly focus on Asian and Pacific regions, accounting for two-thirds of the whole investment and the investment in China has reached 3.5 billion dollars. The investment in Lain America is 1.4 billion dollars, accounting for 15% of the total investment. The investment in Europe is one billion dollars and mainly focuses on Eastern Europe. 0.921 billion dollars are invested in North America for the upgrading of American old tire manufacturers.
HANKOOK takes the first place with an investment of 1.44 billion dollars.
The second is Bridgestone with an investment of 1.15 billion dollars.
Then comes Michelin of 1.1 billion dollars invested on five projects.
Goodyear invested one billion dollars on the upgrading of the three important tire factories.
The mainland tire manufactures also invested five projects.
Pirelli invested on three projects.
Based on the ratio of investment to sales incomes, HANKOOK and Cheng Shin take the first and second place respectively of 16.2% and 14.3%.
Based on the ratio of scientific research to sales incomes, HANKOOK, with 3.5%, takes the first place. And its investment on Korean R&D Centre construction has go beyond 0.1 billion dollars.