Taiwan tiremaker Federal records sales increase
Tire sales at Taiwan-based Federal Corp. are up 11.7% through October compared to the same period last year, according to the Taiwan Stock Exchange.
Federal reported total sales of $72 million for the first 10 months of this year. The company also recorded a record single-month export sales total in October.
“We may not be a company of impressive size and capacity, but we are flexible and our people adapt to market changes very quickly," says Jamie Ma, executive vice president. "We keep up with the trends and even hope to bring in new trends to the tire business."
Higher-than-expected demand for Federal's SS595 ultra-high performance tire line in Taiwan and overseas has contributed greatly to the company's success, according to Ma. The tire was introduced in the first quarter of 2001.
"I actually have to move our stock reserved for the domestic market to feed our very hungry distributors in Europe and North America.”
In addition to its core high performance offerings, Federal also produces Maxon and Hero broad-line tires at its new manufacturing facility in the province of Jiang-Xi, China. Federal says its plans to make incremental investments to expand its production capacity "to meet the booming demand in China and elsewhere."