China: Kumho to expand operations at Tianjin facility
Tuesday, November 06, 2007, AutomotiveWorld.com
Kumho Tires (Tianjin) has secured official approval for a planned investment increase, production expansion and technical upgrading project, according to an announcement made by the Tianjin Economic and Technological Development Area (TEDA).
The South Korean company is planning to invest US$85.29m and has registered capital of US$28.73m. The investment is expected to increase the company's total registered capital from US$82m to US$110.73m, while its total investment is expected to rise from US$246m to US$331.29m.
According to TEDA, the expansion will increase Kumho's current annual production capacity from 5.25 million meridian tyres to around seven million units.
In July, Kumho Tire opened a new tyre manufacturing facility in Changchun. As well as this and the Tianjin facility, the company has a further plant in Nanjing.
Published on Tuesday, November 06, 2007
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