A 50 hectare rubber plantation and processing plant will be established on the Philippines island of Mindanao at a reported investment cost of US$200 million, and Finnish firm Black Donuts Engineering Inc. will serve as a consultant for coordinating the project. Company president and chief executive officer Kai Hauvala told Tyres & Accessories that news published online of Black Donuts’ participation as an investor are untrue, as are reports it intends to build a tyre factory at the site, however “options for project ownership” that involve Philippines-based investors exist. Hauvala didn’t elaborate on the precise nature of these options.
Black Donuts is headquartered in Pirkkala, Finland and is a renowned tyre industry consulting firm. The services it offers includes contracting to set up entire tyre plants and the development of new products.