QINGDAO, China—Qingdao Sentury Tire Co. Ltd. has developed new decade-long business strategy that aims to establish eight manufacturing sites, three research centers and three "customer-experience" centers by 2031.
Dubbed "833plus," the ambitious strategy also raises the possibility of the acquisition of one international competitor during the timeframe, according to the Chinese group's annual report. The company did not quantify the investment necessary to achieve its goals.
Sentury's strategy for tire plants breaks down as: three plants in China, two in Thailand and one each in Europe, Africa and North America.
The Qingdao-based tire maker—ranked No. 39 worldwide based on fiscal 2019 sales of $644 million—claims manufacturing capacity of 15 million units/year at its plant in Jimo, China, and 5 million units/year at its factory in Rayong, Thailand.
The company originally planned to add a U.S. plant but abandoned those plans in 2019, three years after unveiling its intentions to expand. A number of global economic factors led the decision to hold off on expansion.
Sentury officials told European Rubber Journal the company's strategy includes plans to open research centers in Europe and North America to complement its facility in China.
The company went public last November, with shares being traded on the Shenzhen Exchange in China.
Qingdao Sentury is represented in North America by Sentury Tire USA Inc. in Miami. It goes to market here under the Delinte, Landsail and Sentury brands.
