Double Star Hengyu "marriage"

Qingdao Shuangxing and Shandong Hengyu Technology Co., Ltd. recently signed a strategic cooperation agreement to jointly invest in the establishment of Qingdao Xingheng Tire Co., Ltd.

It is understood that the cooperation between the two parties is intended to leverage Hengxing’s platform, capital advantages and display Hengyu’s existing brands, products and manufacturing capabilities to quickly establish Hengyu as a tire manufacturer with differentiated industries.

People in the industry believe that this "strategic cooperation" will help Binxing implement the "three-and-two-round" Internet of Things strategy, and it will also be a continuation of its investment and mergers and acquisitions; and for Hengyu, it will be delivered in the snow.

At present, some tire companies in Shandong have great pressure for survival. Hengyu, established in 2010, is no exception. From the second half of 2015, the company’s production and operation funds were relatively scarce, and the production line was in a half-open and half-stop state. In November, there were market rumors that Hengyu Rubber was facing bankruptcy.

Related industry sources said that in this very period, the cooperation between Hengyu Technology and Double Star is also something the local government would like to see. It is hoped that this combination will really convey positive energy.

Qingdao Shuangxing stated that the strategic cooperation with Hengyu Technology was the company's opportunity to take advantage of the transformation of China's tire industry, which will help Hengyu Technology to improve tire manufacturing technology, tire intelligent equipment and manufacturing, and accelerate the development of dual-star tires in China. The strategic layout of the market.

In the world's top 75 tire rankings, Hengyu ranked 37th, and only 33 ranked double star.