Chinese DoubleStar Group to open its European headquarters in Catalonia
The company will initially invest between 12 and 14 million euros in a logistics centre, with an expansion possibility in the near future. The Chinese multinational company specialising in the tire, rubber and shoe industries chose Barcelona as its base to enter the European and North African markets.
Barcelona (ACN).- The Chinese multinational company DoubleStar Group chose Catalonia in order to crack into the European and North African markets. Its aim is to distribute its rubber-derived industrial products in the region. In the future there is the likelihood for expansion into other activities and distribute other products such as tires and shoes. In the last month alone, two multinational companies decided to close their plants in Catalonia, however three decided to set up there and use it as their base in Europe. The motorbike manufacturers Piaggio and Yamaha decided to leave, but on the positive side Hewlett-Packard, Inditex and now DoubleStar Group took the decision to invest in Catalonia with logistics, marketing and design being the core sectors. DoubleStar will initially invest between 12 and 14 million euros in their Catalan plant, which will be the Chinese company\u2019s European and North African headquarters. They will initially employ 75 people. In the future, it plans to distribute tires, shoes and other products. It hopes to become Europe\u2019s market leader in the tire market and subsequently expand its centre in Catalonia. This could see their initial investment multiplied by 10 or 15 in only a few years and there could also be an increase in the number of people employed. The decision to open in Barcelona was announced by the company\u2019s President, Hai Wang.
This is positive news for the Catalan economy, which is aiming to decrease its unemployment rate in 2011. The Chinese company DoubleStar Group is market leader in tires in China and decided to set up its distribution centre for the European and North African markets in Catalonia. It will distribute rubber industrial products, with the likelihood that they will introduce the tire brand DoubleStar in Europe. The decision to set up its European and North African headquarters in Barcelona\u2019s Metropolitan Area was announced by the company\u2019s President, Hai Wang. He explained that the city\u2019s strategic location and infrastructure were the main reasons for the opening. The group will distribute its products in both regions from Catalonia. The company\u2019s president stated; \u201Cafter analysing all market possibilities, Catalonia is our choice for putting the \u2018Chinese Brand Name\u2019 of all our products into the market\u201D.
DoubleStar Group is the market leader in the Chinese tire and rubber industries. However, it is currently diversifying its business and it is investing in other sectors, such as shoes or sportswear. The Chinese group employs more 40,000 workers and has 140 companies. The group is looking at the possibility of exporting all of its products to the European market. Initially, the decision was taken to focus solely on industrial rubber products made in China. They are also studying the possibility of introducing the tire brand DoubleStar into Europe. This initial phase is expected to see a total investment of between 12 and 14 million euros in Catalonia.
The Chinese company has decided to open its base in Catalonia thanks to the Chinese-Spanish Commercial Office (OCHE), which aims to help and attract Chinese companies to open up in Spain. It focuses on three Chinese business institutions: the Committee for China\u2019s Economic International Promotion, the Chamber of Commerce and the Foreign Affairs Office of Quingdao. OCHE director, Esteve Solanes, said that \u201Can economy such as China\u2019s offers many possibilities and one of our main objectives is to enable the involvement of as many of our own home businesses in order to generate new economic activity\u201D.