NUERBURG, Germany—China's Zhongce Rubber Group Co. Ltd.'s ambitious near- to medium-term growth plans could include establishing manufacturing in North America and Europe, company officials stated recently.
Speaking at a July 11-12 customer and media event at the Nuerburgring race track in northwestern Germany, ZC Rubber's marketing director of international business Richard Li said the firm's strategy is to deliver "continuous growth," particularly overseas.
Hangzhou, China-based ZC Rubber, considered the world's No. 9 tire maker with fiscal 2021 sales of $4.5 billion, has stated on a number of occasions in the past its goal is to become the world's No. 5 tire maker within the decade.
As recently as 2021 the company—which goes to market with the Arisun, Chaoyang, Goodride, Trazano and Westlake brands—floated the idea of a plant in the U.S.
Li's comments are linked to ZC Rubber's pending initial public offering (IPO), which the tire maker anticipates being able to complete by year-end, following hoped-for clearance by the country's financial-markets regulator.