Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory

4th January 2019 | 0 Comments
 
Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
Prinx Chengshan had initially been in talks with Malaysia regarding its new tyre factory, however the company has now confirmed that its Thailand operation means it won’t be pursuing the Malaysia option at this time.

Having rejected earlier plans for a new tyre factory in Malaysia, Prinx Chengshan has invested 170.6 million yuan (£19.464 million) in buying at least 433,600 square metres of land in at Tambon Nong Suea Chang, Amphur Nong Yai, and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province in Thailand. According to stock exchange filings dated 25 December 2018, the deal comprises “several plots of land” and will be funded by the company’s recent global share offering.

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Category: Company News, International News

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