Monrovia, California - Shanghai Tyre and Rubber Co. Ltd., recently changed its name to Double Coin Holdings Ltd., according to a filing with the Securities and Exchange Commission from the Bank of New York, which represents ownership in some shares of Shanghai in US markets through an American Depositary Receipt (ADR). The Bank of New York said the change was effective Aug. 14.
Shanghai Tyre's Web site carries both names.
Officials at the company's US subsidiary, China Manufacturers Alliance LLC (CMA), said the company would be releasing an official statement about the change soon. However, CMA's CEO Larry Williams said the goal is to identify the company more with the products. â€œWe're just trying to be more closely associated with brand awareness.â€
In addition, CMA has engaged a Chicago marketing agency to develop a branding image for the Double Coin brand in North America as its parent company changes its name to highlight Double Coin.
CMA said it hired Fathom Communications to develop and implement the branding initiative. The goal of the campaign is to increase consumer and user awareness of Double Coin with advertising, sales promotion, online marketing, Web design and direct marketing.
The brand is available in more than 950 locations across North America, CMA said.
â€œWe have worked very hard to develop a comprehensive network of high-quality dealers [in the US] and are now ready to create a clear, distinct brand image for Double Coin with both trade and consumer audiences,â€ said Aaron Murphy, vice president of CMA.
From Tire Business (A Crain publication)