BEIJING (Dec. 5, 2013) — Taiwan’s Cheng Shin Rubber Co. Ltd./Maxxis International earned a spot this year on <i>Forbes</i> magazine’s “Asia Fabulous 50” companies, an annual ranking of companies with at least $3 billion in annual revenue and solid profits and other business metrics.
Cheng Shin is the only rubber company on the list and one of only two Taiwanese firms. This marks the tire maker’s second consecutive year on the list, the Taipei, Taiwan-based company said. <i>Forbes</i> honored the companies recently at a banquet in Beijing.
Among the reasons given for Maxxis’ repeat appearance on the list was the company’s 86-percent jump in net profit in fiscal 2012 to $530 million. The firm reported $4.4 billion in sales last year.
<i>Forbes</i> said it started with 1,220 candidates for the list.