ERJ staff report (DS)
London - Shandong Linglong and Nexen Tire have joined the Imported Tyre Manufacturers' Association (ITMA), bringing the total number of members up to 15, including five who have joined within the last 12 months.
Shangdong Linglong was established in 1975 and currently has an annual production capacity of some 30 million tyres which are sold in more than 180 countries and regions. Within Europe, the company's products are distributed by Eskay Tyres.
Nexen Tire was originally established as South Korea's first tyre company some 70 years ago, although the company did not adopt its current name until 2000. It currently enjoys a 20% market share in its domestic market and exports to over 120 countries with annual sales of more than $600 million. Its products are distributed across the UK by Stapleton's Tyre Services.
According to recent figures released by the UK-based Tyre Industry Federation, non-EU sourced tyres now account for more than 50% of all UK replacement tyre sales and some 30% across Europe as a whole. Indeed, over 300 brands of tyres are on sale in European markets sourced from over 45 countries around the world.
ITMA is the only trade association in Europe to exclusively represent the interests of non-EU based tyre manufacturers. It was established more than 30 years ago when imported tyre brands started to gain a significant share of UK and mainland European replacement market. The association now represents more than 30 tyre brands from its member companies.
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Press release from ITMA