ZHANGJIAGANG, CITY, China (Dec. 23, 2011)—Phenolic resins producer Sino Legend (Zhangjiagang) Chemical Co. Ltd. said it wants to expand its sales to tire makers in North America and Europe.
The company—which has built up a sizable business base in China and the rest of Asia—started production of the resins in December 2007 at the Zhangjiagang City plant. It now claims it has about 70 percent of the Chinese market for tackifying and reinforcing resins used in tires and a 30-percent share for the rest of Asia.
Initial capacity at the factory was 20,000 metric tons a year for the tackifying and reinforcing resins, but that was doubled last year to 40,000 tons, according to the company. Sino Legend said it is considering additional expansion at that site, located near Shanghai, but also is exploring preliminary options for U.S. and European manufacturing.
Since its startup, Sino Legend has grown to supply eight of the world's top 10 multinational tire companies operating in Asia along with the majority of China's domestic manufacturers.