Tire maker Cheng Shin Rubber Industry Co (正新橡膠), which sells its products under the Maxxis brand, said its new plant in India is to start production in June, as it eyes business opportunities in the region.
New motorcycle sales in India are expected to reach about 18 million units this year, company vice president Liao Cheng-yao (廖正耀) told an investors’ conference earlier this month.
With an annual capacity of 6 million motorcycle tires, the plant in India’s Gujarat Province will mainly produce tires for its Japanese customers.
Cheng Shin, the world’s 10th-largest tire manufacturer, said the Indian plant could break even in three years.
The company is also expanding in Indonesia, but plans for a new motorcycle tire plant to start operating in the third quarter might be delayed as it is still awaiting permission from local authorities.
The plant, which is based in West Java’s Greenland International Industrial Center, will have an annual capacity of 6 million tires, Cheng Shin said.
The two ongoing expansion projects are expected to raise the revenue contribution of motorcycle tires, which accounted for 13.9 percent of sales last year, the firm said, without elaborating.
Car tires remained Cheng Shin’s main source of revenue last year, accounting for 44.4 percent of its total sales, while truck tires contributed 17 percent, company data showed.
The Changhua-based company — the nation’s largest tire maker — operates 10 plants in Taiwan, China, Vietnam and Thailand.
Cheng Shin’s board of directors yesterday approved plans to distribute cash dividends of NT$3 per share, which translate into a payout ratio of 73.3 percent, the company said in a filing with the Taiwan Stock Exchange.
The company posted a net profit of NT$13.25 billion (US$439.5 million), or NT$4.09 per share, last year, up 3.7 percent from previous year, while sales edged up 0.56 percent to NT$117.39 billion, company data showed.
Based on Cheng Shin’s stock price, which closed at NT$62.10 yesterday, the proposed cash dividend would translate into a dividend yield of 4.83 percent.
The tire manufacturer is to hold its annual shareholders’ meeting at the company’s headquarters on June 15.
SEMICONDUCTOR SERVICES: A company executive said that Taiwanese firms must think about how to participate in global supply chains and lift their competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it expects to launch its first multifunctional service center in Pingtung County in the middle of 2027, in a bid to foster a resilient high-tech facility construction ecosystem. TSMC broached the idea of creating a center two or three years ago when it started building new manufacturing capacity in the US and Japan, the company said. The center, dubbed an “ecosystem park,” would assist local manufacturing facility construction partners to upgrade their capabilities and secure more deals from other global chipmakers such as Intel Corp, Micron Technology Inc and Infineon Technologies AG, TSMC said. It
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
The US on Friday penalized two Chinese firms that acquired US chipmaking equipment for China’s top chipmaker, Semiconductor Manufacturing International Corp (SMIC, 中芯國際), including them among 32 entities that were added to the US Department of Commerce’s restricted trade list, a US government posting showed. Twenty-three of the 32 are in China. GMC Semiconductor Technology (Wuxi) Co (吉姆西半導體科技) and Jicun Semiconductor Technology (Shanghai) Co (吉存半導體科技) were placed on the list, formally known as the Entity List, for acquiring equipment for SMIC Northern Integrated Circuit Manufacturing (Beijing) Corp (中芯北方積體電路) and Semiconductor Manufacturing International (Beijing) Corp (中芯北京), the US Federal Register posting said. The
India’s ban of online money-based games could drive addicts to unregulated apps and offshore platforms that pose new financial and social risks, fantasy-sports gaming experts say. Indian Prime Minister Narendra Modi’s government banned real-money online games late last month, citing financial losses and addiction, leading to a shutdown of many apps offering paid fantasy cricket, rummy and poker games. “Many will move to offshore platforms, because of the addictive nature — they will find alternate means to get that dopamine hit,” said Viren Hemrajani, a Mumbai-based fantasy cricket analyst. “It [also] leads to fraud and scams, because everything is now
RSS