|Double Coin Tires, Michelin to Enter Joint Venture|
|Wednesday, 04 May 2011 09:14|
MONROVIA, Calif. – Double Coin Tires and China Manufacturers Alliance, LLC (CMA), a leading tire manufacturer and marketer is pleased to announce that its parent company, Double Coin Holdings, Ltd and Shanghai Huayi (Group) Company has signed a Memorandum of Understanding with Michelin to create a joint venture to produce Warrior-brand passenger car and light truck tires.
CMA manufactures and markets flag, associate & private brand products produced by Double Coin Holdings as well as from several other manufacturers. Flag and associate brands distributed by CMA include Double Coin and Warrior brands.
The joint venture is in-line with Double Coin’s plans to release a consumer tire line for the North American market in the future. “CMA recognizes this strategic partnership as the first step in the marketing of passenger & light truck tires from Double Coin Holdings into North America,” said Aaron Murphy, Vice President of CMA. “CMA is excited about the opportunity to market products from the joint venture, and anticipates the same level of interest from our customers as another high quality product is offered by Double Coin.”
The joint venture is pending final approval by Chinese authorities and subject to further review. Once approval has been given, Michelin will own 40% equity stake while Double Coin Holdings will hold the remainder as well as the rights to the brand. The $491 million plant is currently being built in Wuwei County, Anhui province located at the Anhui Industrial Park.
ABOUT DOUBLE COIN
Double Coin tires have been marketed in the U.S. since 1992 and have grown in popularity every year. Currently, the company markets tires to some of North America’s most influential distributors including American Tire Distributors, Carroll Tire Distributors, Tire Dealers Warehouse, The Del-Nat Tire Corporation, Tire Wholesalers, Inc., and many more. Double Coin also supplies to a strong Servicing Dealer group that includes Les Schwab Tire, Action Tire, KAL Tire (Canada), Pete’s Tire Barns, Southern Tire Mart, Black’s Tire & Auto Service, Northwest Tire Corporation, Todo Neumáticos y Más (Mexico), as well as others. In addition, Double Coin tires are being sold at selected Love’s Travel Stops throughout the United States.
Double Coin tires are supplied by China Manufacturers Alliance, LLC, a subsidiary of Double Coin Holdings, Ltd., based in Monrovia, California. Double Coin products include truck and bus radial and radial off-the-road tires that both enjoy OEM fitments at major North American truck and construction equipment manufacturers. In addition, Double Coin truck and bus radial tires are being tested with some of the most progressive fleets in North America. The company has introduced new products to the lineup including ultra-premium, fuel-efficient, new mixed-service and regional TBR tires. In 2011, Double Coin introduced Giant Radial OTR products and Radial R-1 Agriculture tires into the North American market. For information about Double Coin products, visit: www.doublecoin-us.com.
CMA, LLC manufactures and markets flag, associate and private brand products from Double Coin Holdings, Ltd., and from several other strategic manufacturers. Flag and associate brands distributed by CMA include: Double Coin, Warrior, Dynatrail, Dynacargo, Dynastar, Bluestar and Superhawk. In addition, CMA supports several large tire marketing organizations with private and exclusive brand consumer and commercial tires.
|Last Updated on Wednesday, 04 May 2011 09:17|