Kumho Set on New Plant in Vietnam
(Akron/Tire Review) Confirming earlier reports, South Korea’s Kumho Tire Co. has announced that it will build a new $155 million tyre plant in Vietnam. According to the Korea Times, the new plant will come on-stream in 2008 with an annual capacity of 3.2 million tyres. Kumho signed a memorandum of understanding with Vietnam’s state-run builder Becamex in Binh Duong province to establish the wholly owned plant there. Construction on a 314,000-square-meter site just north of Ho Chi Minh City will begin in the second half of this year.