Việt Nam News

Casumina rubber company to increase exports to US

October 17, 2016 - 17:20

The Southern Rubber Industry Joint Stock Company (CASUMINA) plans to capitalise on opportunities arising from the Trans-Pacific Partnership trade agreement to increase sales of its semi-steel radial tyres, considered a strategic product of the company, to the US market.

Casumina’s tyres. — VNS Photo

HCM CITY — The Southern Rubber Industry Joint Stock Company (CASUMINA) plans to capitalise on opportunities arising from the Trans-Pacific Partnership trade agreement to increase sales of its semi-steel radial tyres, considered a strategic product of the company, to the US market.

Nguyễn Hồng Phú, the company’s general director, said the company will plan to implement a project producing semi-steel radial car tyres with an annual output of one million products and put into operation a production chain of tubeless motorbike tyres with an annual output of 2 million products.

Lower input costs and free trade agreements have created favourable conditions for the company to expand export markets.

The TPP, however, has opened the door for imported tyres, causing intense competition in the domestic market, especially in steel radial tyres.

Casumina, the leading tire manufacturer in Việt Nam, supplies tyres and tubes to many well-known automotive and motorbike makers in Việt Nam.

Its products are also exported to countries and territories in Asia, Europe, the US and Africa, with revenue from exports accounting for one-third of the company’s total revenue.

Casumina’s revenue reached VNĐ1.5 trillion (US$67.3 million) in the first half of the year. — VNS

Tags casumina tyres and tubes

VN-Index loses the threshold of 1,180 points

Economy

HCM City seeks to draw remittances in infrastructure

Economy

Lào Cai province calls for more Japanese investments

Economy

Chilli pepper exports jump 53% in Q1

Economy

Masan closes $250 million investment from Bain Capital on April 22

Economy

Vietnamese PM outlines three key breakthroughs for ASEAN's path to digital excellence

More on this story

Economy

Binh Minh Plastics to lift foreign holding cap by year-end

Bình Minh Plastics Company (BMP) is working with a consulting firm to prepare essential procedures to lift its cap on holdings by foreign investors to 100 per cent before the year-end, HCM City Securities Corporation reported.

Economy

Q3 earning prospects keep stocks positive

Vietnamese shares advanced slightly yesterday after a volatile trading week, driven by investor expectations of positive third-quarter earnings reports.

Economy

Gov’t proposes sugar import auctions

Việt Nam Sugar cane and Sugar Association (VSSA) has proposed that the Prime Minister allow importing raw sugar instead of refined sugar to save foreign currency for the 2016-17 crop.

Economy

Investors change tack, remain indifferent as gold slides

Investors change tack, remain indifferent as gold slides; Bank restructuring to continue; Yuan becomes global reserve currency; what does it hold for Việt Nam

Economy

Industrial structure “more positive,” ministry says

Việt Nam’s industrial sector is seeing positive changes in structure, despite a fall in the index of industrial production (IIP) this year, the Ministry of Industry and Trade reported.

Economy

Vietnamese fruits need export support

Việt Nam has shown strong growth in fruit and vegetable exports in recent times, but for the sustainable development of exports more support from the State and enterprises is required.

Economy

Speculation expected to drive stocks this week

Vietnamese shares may continue to rise this week, as a difference in pricing between blue chips and speculative stocks, as well as prospects of solid third-quarter earnings reports, could keep investor confidence positive.