In Romania, a new metal cord factory may be opened

Chinese metal cord manufacturer for tires Shoujia Technology is considering building a new plant in Eastern Europe as part of its global expansion. As part of the project preparation, at the end of June, Shoujia's Deputy Chairman of the Board Zhao Yue led a company delegation to Romania, where they discussed with local authorities issues such as labor availability, infrastructure, and more.

According to ERJ, the enterprise may be built in Oradea - a city on the border with Hungary, where the Finnish company Nokian Tyres recently opened a carbon-neutral tire plant.

As noted by Shoujia, the company is actively strengthening its position outside of China and is considering both the construction of new plants and the acquisition of existing enterprises. Over the past two years, the share of exports in Shoujia's turnover has grown to almost 40%, and by 2025, it is planned to increase this figure to more than 50%.

Since the beginning of 2024, the value of Shoujia's shares has more than doubled, which should allow the company to finance the new project. Last year, the company issued two batches of shares, with the last one attracting around 30 million euros, which is planned to be invested in increasing production capacity and expanding its presence abroad.

In addition to the project in Eastern Europe, Shoujia is also planning to acquire other metal cord manufacturers and integrate them into its structure. In September last year, the company announced plans to create a joint venture with its shareholder, RZHL, in Singapore.

"Our goal is to become the world's leading metal cord supplier through a strategy that combines brand development and international market expansion," Shoujia noted.