Kumho Expands Presence in Chinese Market
(Akron/Tire Review) Kumho Tire Co has completed the expansion of its Nanjing, China tyre plant, more than doubling its annual production in China. The Nanjing plant, along with a new Kumho tyre factory in Tianjin, will result in an expected annual production capacity of 18 million tyres a year by 2007, according to Kumho. The Nanjing plant currently produces 5 million tyres a year, and the expansion will boost annual capacity to 12 million tires. Kumho also said it was considering building a third plant in China.
Construction on the Tianjin plant has begun and is expected to be completed in the second half of 2006. The new plant will produce mostly ultra-high performance tyres, according to Kumho officials. Annual production capacity there is targeted at 5.25 million tyres.
In a statement, Kumho said: “As our Nanjing plant and Tianjin plant will cover the southern and northern regions respectively, we aim to achieve an 18 per cent market share of the entire Chinese market by 2008 and become the number-one maker in 2009.”