|Casumina’s tyres. — VNS Photo|Viet Nam News
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