On December 15, SAILUN INTERNATIONAL HOLDING (SINGAPORE) PTE.LTD., a wholly-owned subsidiary of Sailun, signed a "Joint Venture Agreement" with the local Mexican company TD INTERNATIONAL HOLDING, S.A.P.I.DE C.V. (hereinafter referred to as "TD Mexico"). The two parties plan to establish a joint venture and invest US$240 million (approximately RMB 1.708 billion) to build a PCR tire project in Mexico with an annual output of 6 million units.
After the completion of the project, it will further improve Sailun Group's global strategic layout, better meet the product needs of global users, especially the North American market, and further enhance Sailun Group's competitiveness and share in the global market. In the future, the joint venture will also consider building an TBR tire project with an annual output of 1.65 million units, which is expected to help Sailun Group develop its supporting market in North America.
Under the current situation of major changes unseen in a century, the international environment is complex and ever-changing, and global industries are accelerating the restructuring. "Going global" is the only way for Chinese enterprises to participate in global competition and break through. Like-minded partners are an important enabler for Chinese companies to “go global”. TIRE DIRECT, S.A. DE C.V., a subsidiary of TD Mexico, is the largest tire dealer in Mexico. It has a complete sales network and rich local operation experience. It is also a partner of Sailun Group for many years. In the future, TD Mexico will provide strong support for projects in many aspects.
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