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Since our founding in 1993, Giti Tire has grown to become one of China's leading tire manufacturer in terms of production volume, total sales revenue, and product range through a combination of new product development and carefully selected acquisitions. Currently, we have a total of seven manufacturing plants in China, all of which were built or selected based on our judgment of their ability to operate at global standards in terms of production quality and capacity. We have also vertically integrated into some strategic raw materials production like nylon cord and steel wire to mitigate supply risk and quality control.

Significant milestones in the development of our business include the following:

1993:
Established a joint venture (currently named GITI Anhui) with Anhui Tire Factory, an independent third party for the production of bias tires; we initially held a 60% interest in the joint venture and subsequently purchased Anhui Tire Factory’s entire interest in the GITI Anhui in 1997.

1996:
Commenced production of PCR tires at GITI Anhui.

1998:
Established proprietary sales and distribution centres in various locations in the PRC.

2000:
GITI Fujian completed construction of a new PCR tire production plant in Fujian and commenced production.

2001:
GITI Anhui commenced TBR tire production through acquisition of a TBR tire production plant from the local Anhui government; GITI Anhui’s production facility was ranked as the number one manufacturing plant in China in terms of sales revenues according to the China Tire Association.

2002:
Acquired 100% interest in a TBR tire production facility in Chongqing, currently held by GITI Chongqing.

Acquired 70% interest in a bias and PCR tire production facility in Yinchuan, currently held by GITI Greatwall.

Acquired 70% interest (subsequently increased to 78.7%) in a TBR tire production facility in Yinchuan, currently held by GITI Yinchuan.

2003:
Acquired a stake of approximately 44.4% in Hualin Tyre (since renamed GITI Tire Corporation, a manufacturer of tires whose shares are listed on the SSE).

2004:
We transferred substantially all of our PRC subsidiaries to GITI China Investment, a wholly-owned PRC intermediate holding company.

2005:
Acquired a 22.5% stake in Gajah Tunggal, an Indonesia-based tire manufacturer listed on the Jakarta Stock Exchange which owns and operates the largest integrated tire manufacturing facilities in Southeast Asia; our interest in Gajah Tunggal has since increased to approximately 44.8% as of 31 December 2009.

Completed asset swap with GITI Tire Corporation, in which we transferred 51% of our interest in GITI Fujian to GITI Tire Corporation in return for all of the assets and certain liabilities of GITI Tire Corporation which were then transferred to GITI Hualin.

Established sales and marketing subsidiaries in the US and Europe to expand export sales.

Achieved ranking of 13th largest tire manufacturer in the world in terms of sales revenue according to Tire Business.

2006:
Signed a three-year sales agreement (subsequently extended in 2007 to run until 2012) with BFS Retail & Commercial Operations, LLC, one of the largest tire retailers in the US.

Awarded 2005 Supplier of the Year award by General Motors.

2007:
Established sales and marketing subsidiary in Canada to expand export sales.

Established GITI Radial Tire Anhui to further expand our manufacturing facilities.

Extended our sales agreement with BFS Retail & Commercial Operations, LLC to expire in 2012 and signed an additional new sales agreement with them for five years.

Awarded 2006 Supplier of the Year award by General Motors for the second consecutive year.

2009:
Established sales and marketing subsidiaries in UK and Germany to expand export sales.

Awarded 2009 Supplier of the Year award by General Motors.




Global tire manufacturer
 
exports to over 100 countries around the world.
 
7 globally-scaled plants
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