Giti To Boost Production Capacity
Giti Tire (China) Investment Co. Ltd, China’s largest tyremaker, has voiced its intention to raise tyre production capacity at its Hualin factory. The company intends to boost annual capacity there by a further 4.6 million tyres from its current 3.4 million by the end of 2008.
Giti Tire operates six factories in Mainland China, the largest of these being in Anhui and Fujian provinces. The company recently announced plans to sell bonds in order to free up revenue for capital expenditure.