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Article: Foreign influence; Chinese firms gain ground, boost market value.(News)
- Article from:
- Rubber & Plastics News
- Article date:
- August 25, 2003
- Author:
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bruce Davis
The China factor weighed in on this year's Rubber & Plastics News Global Tire Company Rankings.
The three behemoths of the world's tire business-Groupe Michelin, Bridgestone Corp. and Goodyear-retained the top spots in the rankings, based on 2002 sales. But the rise to prominence of a dozen-plus Chinese tire companies caused the trio's dominance of world tire sales to fall slightly to 56 percent.
Overall, the size of the global market rose 3.1 percent to an estimated $70.6 billion, with growth by the Chinese firms accounting for much of that increase. The shift in value between the dollar and other currencies accounted for a ...
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