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China's Linglong Tire to enhance partnership with Paraguay's SUNSET on market share in Latin America
October 09, 2018
Abstract : Shandong Linglong Tire Co., Ltd., a leading Chinese tire manufacturer, said that it would sign a strategic cooperation agreement with Paraguay-based tire distribution company SUNSET Tires Co., Ltd. to capture more market in Latin America.
BEIJING, Oct. 9 (Xinhua) -- Shandong Linglong Tire Co., Ltd. (601966.SH), a leading Chinese tire manufacturer, said on Tuesday that it would sign a strategic cooperation agreement with Paraguay-based tire distribution company SUNSET Tires Corporation Limited in Sao Paulo, Brazil on Friday to capture more market share in Latin America.
Under the agreement, the two sides will work together to help Linglong achieve an over 10-percent market share in Brazil's Chinese tire imports market, and a 10-percent market share in Paraguayan market each year from 2019 to 2021.
In addition, SUNSET will import more than 300 million U.S. dollars of products from Linglong in the next three years.
According to Linglong's announcement, it has cooperated with SUNSET for more than a decade. SUNSET has annual sales revenue of 300 million U.S. dollars, with its market share in Brazil and Paraguay ranking the first for years. Linglong currently has an overseas manufacturing base in Thailand, and in August, it announced its second overseas base in Serbia. (Edited by Wu Shuang, Ding Lei; [email protected])
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