Taipei, June 22, 2012 (CENS)--Hwa Fong Rubber Ind., Ltd., a major tire maker in Taiwan, recently signed an agreement with Continental AG of Germany to be the local agent of Continental motorcycle tires. Continental is a renowned brand globally and Europe's No. 1 brand of motorcycle tires.
Chen Heng-yi, Hwa Fong's chairman, pointed out the company is diversifying into non-manufacturing business to boost revenue, adding that Hwa Fong has a dual-engine strategy to build growth. In addition to strengthening the core business of making and selling Duro, Quick and Columbia own-branded tires, the company will try to expand partnerships with international tire brands in dealerships and OE production. "To be the local agent of Continental motorcycle tires is the start of Hwa Fong's international-cooperation strategy," Chen said.
Andrea Borowsky, media and public relations manager at the German Trade Office Taipei, pointed out that the Hwa Fong-Continental tie-up shows closer interaction between Germany and Taiwan. Statistics show that in 2011, the powered two-wheeler (PTW) ownership in Taiwan was about 11 million units, far exceeding the four million in Germany to show high potential for PTW tires on the island.
Established in 1945, Hwa Fong started by making tires for many international brands and then developed several own-brands, currently supplying passenger car radial (PCR), motorcycle/scooter, bicycle, truck and bus radial (TBR), agriculture machinery, and special-purpose tires.
Lai Kuang-yang, Hwa Fong's president, said that Continental has about 140 years of experience, hires some 140,000 global employees and owns operating points in 39 countries, with one of every four cars made in Europe adopting Continental tires.
(by Quincy Liang)