One Chinese and two Thai partners have agreed to invest in a new joint venture passenger car and truck tyre factory in Thailand to supply both the domestic and export markets. The joint venture company hasn’t yet been named and will be established by June 2017. A total of 1 billion baht (£22.5 million) is to be invested in the new facility.
Shandong Yinbao Tyre Group Co., Ltd holds a 40 per cent share in the joint venture, with Thai firms N. D. Rubber Public Company Limited and P. Siam each holding 30 per cent.
According to an article published in the Bangkok Post, the plant will enter production in 2018 and have the capacity to manufacture 3 million car tyres and 1.2 million truck tyres a year. The publication adds that Shandong Yinbao Tyre’s interest in the joint venture is linked to tariffs in the USA and India – setting up production outside of China will help the company circumvent these.
Category: International News