Federal Corp. reports record sales
Taiwanese tire manufacturer Federal Corp.'s 2002 sales totaled $103.4 million, a 15.7% increase over the previous year.
Federal achieved record sales each month and quarter of 2002, which it credits to the success of its SS-595 ultra-high performance passenger tire line.
"The growth we achieved is very satisfying and is the direct result of implementing our strategies," says Federal President Jamie Ma.
"Much effort was put in by our research and development department to develop more sizes for every tire model.
"We have also made significant investments in new equipment that allows us to keep pace with growth, enchance quality and manufacture (tires) at a very effective cost."
Federal's sales in markets outside of Taiwan and China account for nearly 67% of its total annual sales.
The company plans to introduce an SUV tire line, the Couragia, during the third quarter of 2003; it "will definitely bolster our sales."
Federal predicts increased sales of its Formoza FD1 all-season touring tire, introduced late last year, will do the same.