LAS VEGAS (Nov. 24, 2015) — Mark Ma, founder, owner and top executive of contract tire producer HongKong Tri-Ace Tire Co. Ltd., is looking to move the Tri-Ace brand from a somewhat eclectic niche brand to a broader performance-oriented offering by establishing his own manufacturing capacity and opening a dedicated import and distribution company in the U.S.
Tri-Ace has budgeted $100 million to build a plant in Asia—Mr. Ma is keeping its location under wraps for now—that will enable the firm to broaden its product offering and escape the burden of U.S. import duties on tires produced in China, where the brand has been manufactured for the past decade.
Mr. Ma, a tire designer for South China Tire & Rubber Co. Ltd. and Shandong Yongtai Chemical Co. Ltd. for nearly three decades, established Tri-Ace Tire in 2002 in Hong Kong as the base of operations for an international tire company he envisioned.
- This article appears in the Nov. 23 print edition of Tire Business
He discussed his plans in a one-on-one conversation with Tire Business at his company's booth at the recent SEMA Show in Las Vegas.
He hired a team of former senior technical staff with experience at firms like Bridgestone Corp., Goodyear and Michelin Group to design and develop tires. Mr. Ma also established off-take manufacturing contracts with several of China's leading tire makers, including Shandong Yongtai, Guangzhou Fengli Tire & Rubber Co. Ltd. and Qingdao Sentury Tire Co. Ltd.