Kaifeng Iron Tower Rubber (Group) Co., Ltd. was established in 1956, formerly known as Kaifeng Rubber Factory. In 1999, it was officially renamed Kaifeng Iron Tower Rubber (Group) Co., Ltd. In 2006, it was merged into Henan Energy Group Co., Ltd. and is now a wholly-owned subsidiary of Henan Energy Group, a Fortune 500 company. The company currently has 428 employees, more than 80 professional and technical personnel, fixed assets of 630 million yuan, and covers an area of 268 acres. It is a designated production enterprise of the former Ministry of Chemical Industry, Ministry of Railways, and Ministry of Coal, with a history of 67 years and an annual production capacity of 650 million yuan. The company has a provincial-level scientific research center and a key laboratory in Henan Province, with strong research and development capabilities and experimental and testing capabilities. It is currently the only large-scale state-owned rubber pipe and strip products enterprise in China.