Year 2015 witnessed a slow economy in China and worldwide market. The tire industry suffered from the declining demand brought by the slow economy and tough competition coming from the oversupply. However in such a difficult year, ZC Rubber still keep steady development and remain the ranking of global top 10 tire manufacturers with the support and trust from our distributors and customers all over the world. On behalf of 28,000 ZC Rubber employees, I shall express the sincere regards and the heartfelt gratitude to the all of you, and thank you very much for your hard work and constant contribution to promote the sales of ZC Rubber products in such a tough market.
Year 2015 is crucial for ZC Rubber on the path of globalization. We had scored remarkable achievements on the global development of production, marketing and service. We hosted the grand opening ceremony in June 2015 for ZC Rubber Thailand Company, which are equipped with the most advanced facilities and technology. The foundation presents the first milestone for globalized production of ZC Rubber who will continue the expansion in other countries. ZC Rubber introduced plenty of new products special designed for the demand of different market segments. ZC Rubber keeps on investing on the global branding and marketing by the establishment of flagship stores in various countries and worldwide advertisement. Furthermore the opening of global sales and service subsidiaries, such as U.S., Brazil, and Europe (in preparation) will help us to respond quickly and effectively to the requirements and concerns from end users.
ZC Rubber expected the coming year 2016 will be still full of business opportunities. The market will keep on pushing us to introduce new products, new technology, and new business modes (such as online stores) to meet the demand from the distributors and end users. The improved quick service will promote the satisfaction of customers. Continuous support on marketing and advertising will enhance the brand awareness. Besides the world economy will experience a slow but promised recovery after the tough 2015 with lower fuel and raw material cost. The land and maritime silk road initiative and the Asian Infrastructure Investment Bank proposed by Chinese government will bring a better development for the economy in the emerging markets. As a result, ZC Rubber expects a quick growth of sales in the coming new year and hopefully all our distributors may catch the opportunity to expand the market share.
In a word, the business will develop further and ZC Rubber will stand with the distributors and customers as one family. We will cherish the feedback from our customers, introduce new products, improve the product quality and aftersales services, and implement innovative global marketing activities to enhance the brand image and occupy more market shares. We will continue our support in both sales policy and marketing activities. We will work together with you.
Here I, on behalf of the company staff, express our thanks again to all the friends who care for and support the development of ZC Rubber. We will craft a better future together.