Sehwa IMC Signs Supply Contract with Uzbek State-Owned Tire Manufacturer

[Asia Economy Reporter Yoo Hyun-seok] Tire mold manufacturing specialist Sehwa IMC announced on the 29th that it has signed its first tire mold supply contracts with Uzbekistan's state-owned tire manufacturer BIRINCHI and Russia's second-largest tire company Cordiant.

A company official stated, "Although we were recently affected by external factors such as the automotive industry's downturn and low-price competition from Chinese competitors, after the replacement of new management, new equipment work standards were established to improve quality levels and production processes." He added, "As fundamental work improvement policies such as process guidance and work coordination were institutionalized, we gradually enhanced technology and quality, thereby increasing brand value." He continued, "Major automobile companies are strict about on-time delivery rates and claim rates to comply with new car model plans and maintain brand trust, which directly translates into sales for tire mold companies that meet these requirements."

BIRINCHI is a state-owned tire manufacturer in Uzbekistan, expected to increase tire production in response to national policies aimed at reducing reliance on imports and replacing them with domestically produced products to boost the economy.

A Sehwa IMC official said, "As the number of foreign tire companies targeting the tire market in Uzbekistan is increasing, Sehwa IMC's customer share in the tire mold business will continue to grow." He added, "Since there is potential for volume expansion and production is easier in nearby overseas locations such as local subsidiaries in Romania and Slovakia, we have an advantage over competing companies."

He said, "This supply contract marks the first step toward expanding the market in Russia and Eastern Europe." He added, "Despite the COVID-19 pandemic, we are focusing the company's full capabilities on sales activities such as new orders and market development to regain our position as the global number one." He also noted, "New orders from domestic tire manufacturers have increased by 200% compared to the first half of 2019."

This content was produced with the assistance of AI translation services.