Prinx Chengshan: Milestones reached in Thailand, China plant projects
Prinx Chengshan reports that “steady progress” is being made at its new tyre factory in Thailand. Construction work commenced on 31 March and the purchase of key equipment by invitation to tender has now been completed. The company estimates that all steel production workshops, mixing workshops, and supporting public works will be completed by the end of this year. Production at the site should commence in 2020.
Meanwhile, capacity expansion projects have boosted potential output at the company’s Rongcheng plant in China. Prinx Chengshan says its all-steel commercial vehicle radial expansion project was implemented during the first half of 2019 and has increased capacity for these products by 1.65 million tyres a year to 6.35 million units. Capacity for semi-steel radial tyres has increased by 1.9 million tyres per annum to 8.4 million tyres. The tyre maker says the increased capacity will help bring into play the tyre industry’s economies of scale and help it to seize market share and strengthen profitability.