Yantai, China – Linglong Tire is to set up three fully-owned subsidiaries and a joint venture, according to its filings on 24 Feb.
Two of the three subsidiaries will be set up in Yantai, Shandong, where the company is headquartered. One will specialise in rubber and tire research with €29 million (200 million yuan) registered capital, and the other on scrap tire and rubber recycling with €2.9 million registered capital.
The third subsidiary, located in Beijing, will be a 'sports culture development' company with €7.3 million registered capital. It will focus on the manufacture and sales of sports products, the construction of sports facilities, the operation and promotion of sports events and investment in sports clubs.