Shanghai Tire Rubber Group to win orders in East Africa

China Shanghai Tire Rubber Group Co., Ltd on the 13th in Nairobi, capital of Kenya signed a contract with three major clients Tanzania and Kenya respectively, with totaled about 3.6 million U.S. dollars for the sale of tires.

Fan Xian, the Group chairman said that the group achieved sales revenues of about 6 billion yuan in 2006, which accounted for 45% of export earnings. Sales in African grew rapidly, in which, the sales income in Kenya last year, is an increase of 500% over the previous year's. The monthly sales volume in Egypt has always been above current sales of more than 1.7 million U.S. dollars.

High speed growth of sales and low labor cost optimize the group about the prospects of development in Africa. Fan said the company is planning to establish tariff free warehouses in Tanzania or Kenya to ensure adequate supply in the East African market. If the conditions are ripe in the next few years, The Company will also plan to invest about 60 million U.S. dollars in building a large tire manufacturer, which will be expected to create 1,200 job vacancies.

Shanghai Tire Rubber Group, founded in June 1990, with two renowned tire brands "Shuangqian" and "Huili", is one of the leading enterprises in China's tire industry. Its Full-steel load radial tire has more than 60 specifications now, 480 varieties which have been awarded for the most popular products and China top brand.