Skip to main content
Sister Publication Links
  • Automotive News
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • MID YEAR REPORT
    • TIRE MAKERS
    • HUMANITARIAN
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
  • Resources
    • ADVERTISE
    • AWARDS
    • CLASSIFIEDS
    • DIRECTORY
    • SHOP FLOOR
    • Best Places to Work
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
October 28, 2014 02:00 AM

China's Greatoo eyes U.S. tire mold growth

Bruce Meyer, Crain News Service
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    (Crain News Service photo by Bruce Meyer)
    Hong Zebin (from left), Christopher Sipe, Todd Keener, Michael Christie and Roy Hood pose at the Greatoo/Northeast Tire Mold booth during the International Tire Exhibition & Conference, held Sept. 9-11 in Akron.

    AKRON (Oct. 28, 2014) — Chinese tire mold maker Greatoo Inc., which established a U.S. presence earlier this year by buying a 75-percent share of Northeast Tire Mold Inc., is planning to invest $20 million to relocate Northeast's factory to a new site in Akron or the surrounding region.

    The partners have not selected as site yet, according to said Roy Hood, director/sales manager for both Greatoo and Northeast Tire Mold, but plans call for construction to begin next year and the new factory expected to open in early 2016 with an expanded capacity.

    The forecast is for Northeast to produce sales of about $10 million in 2015 — representing about 700 tire molds — and for sales of 1,500 molds in 2016, Mr. Hood said.

    Northeast has been in its existing plant in central Akron since the company's founding in 1978.

    Guangdon, China-based Greatoo paid an undisclosed amount in April for its ownership stake in Northeast Tire Mold, Mr. Hood said in an interview at the recent International Tire Exhibition & Conference in Akron.

    Greatoo was formed in 1992. Besides making tire molds, it produces and markets curing presses, CNC machines and automation equipment, Mr. Hood said. It went public in 2004 on the Shenzhen Stock Exchange and employs more than 2,600.

    He said Greatoo traditionally has been strong in China and other parts of Asia, and exported equipement to several countries in Europe and some areas in the Americas. The Chinese firm is strong in direct engraved molds and also utilizes casting and EDM technology.

    By buying into Northeast, Greatoo not only gains greater access to the U.S. market, but it also joins up with a mold maker that focuses on the high-end of the tire market, he said.

    “In the past, Greatoo sold some molds over here, but customers were saying it was better to have someone over here to help with repair and service,” said Mr. Hood, who is now based in Akron. “That is why we came together.”

    Mr. Hood said the two mold makers approached each other and share the same business philosophies. “That is why we came together so quickly,” he said. “We want to be the No. 1 tire mold maker in the world.”

    Mr. Hood said Greatoo has capacity to make 10,000 molds a year at its two plants in China. A factory in Tamil Nadu, India, can make 1,000 molds a year, but an expansion under way there will double capacity to 2,000 molds.

    After buying into Northeast Tire Mold, Greatoo kept the management team at Northeast largely intact, including President Christopher Sipe and Vice President Michael Christie. Mr. Hood said some senior staff did choose to retire.

    Northeast has been strong in North America, Mr. Hood said, and will look to export molds to South America from the Akron facility.

    “They were limited by capacity in the past,” he said. “Sometimes when a customer wanted a mold, they couldn't deliver because of its size. Now they have the financial backing from us. We want to triple their capacity and even more. That will allow them to provide better service to the customers.”

    There also will be opportunities to work together. Greatoo is building a high-tech mold shop at its facilities in China that will use the same programming, machinery and tooling package that Northeast will use, Mr. Hood said.

    _________________________________________________

    This article appeared on rubbernews.com, the website of Rubber & Plastics News, an Akron-based sister publication of Tire Business

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Goodyear tabs distributors for Australia, New Zealand
    2
    Goodyear to cut jobs, divest Asia-Pacific locations
    3
    Tire Business ranks the Top 75 Tire Makers of 2023
    4
    Goodyear adds DuraTrac RT to Wrangler LT tire lineup
    5
    Key issues of UAW strike on Ford, GM and Stellantis
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • MID YEAR REPORT
      • TIRE MAKERS
      • HUMANITARIAN
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
      • RUBBER NEWS EVENTS
    • Resources
      • ADVERTISE
      • AWARDS
        • Best Places to Work
      • CLASSIFIEDS
      • DIRECTORY
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
    • DIGITAL EDITION