Zhongce Rubber merges with TUTRIC

Tianjin, China – Zhongce Rubber Group Co., Ltd. announces that it is with merging Tianjin United Tire & Rubber International Co., Ltd (TUTRIC). The transaction amounts to about RMB1.3 billion (about USD250 millions).

On January 30 of 2022, Zhongce Rubber (Tianjin) Co., Ltd. set up in Tianjin，with a registered capital of RMB550 million（USD86.9 millions）. The registered place is the location of TUTRIC.

The new company is planned to be officially started on April 1. Zhongce Rubber acquires TUTRIC because TUTRIC’s bias OTR tire production lines and location advantages. It is the first plant of Zhongce in the north of China.

TUTRIC is one of the few manufacturers that can produce a full range of OTR tires and special tires in China. The company has a good reputation in these fields at home and aboard.

After the acquisition, Zhongce Rubber will have Zhejiang base, Tianjin base, and Thailand base. This transaction can optimize the layout of production bases of Zhongce, and take advantage of Tianjin Port to expand the production capacity.  And TUTRIC can enlarge the tyre product sizes of Zhongce, as well as channels and customers, further increases Zhongce’s market share. Next step Zhongce will plan to produce radial OTR tyres in Tianjin plant.