Dynamic Design Signs Annual Supply Agreement with Bridgestone, the World's Second-Largest Tire Manufacturer

Dynamic Design announced on the 21st that it has signed an annual supply contract with Bridgestone, the world's second-largest tire manufacturer, until July 2024.

Dynamic Design stated, "Through this bidding, the company has strengthened its position as a Full Supplier, and we expect to expand the transaction volume of additional high value-added tire mold products."

Through this contract, the company has established a foundation to expand supply from primarily Bridgestone USA to Europe and Asia regions, and it is expected that sales growth and profitability improvement will be possible in the future. The company anticipates that the transaction volume with Bridgestone in 2023 will expand to around 10 billion KRW.

Dynamic Design is making various efforts to expand supply to global customers. It has set strategic customer groups aiming to maintain long-term business relationships and is achieving business results by meeting customer purchasing needs through enhancing specialized product supply capabilities for each customer and investing in new technology fields.

The company is building a consistent production system by effectively operating production plants at major overseas bases, including investment in casting process facilities at its Romania-based corporation, thereby improving delivery and service responsiveness to customers. Currently, the establishment of an Indonesian corporation is underway, and further global supply expansion is becoming visible.

A representative of Dynamic Design said, "Currently, the company is entering its third year under a professional management system, securing financial soundness and expanding tire mold orders. Based on medium- to long-term growth, including a new nickel mineral business in Indonesia, we are striving to enhance shareholder value through profitability improvement."

He added, "On the 13th, EV Advanced Materials, the largest shareholder of Dynamic Design, converted all of its convertible bonds (CB) worth 10 billion KRW into shares, resulting in management stabilization due to increased major shareholder equity, improved financial structure, and relief from repayment burdens."

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