Shareholders approve US$1 billion Linglong Tongchuan factory investment
Shareholders have voted in support of Linglong Tire’s US$1 billion investment in a largescale facturoy in Tongchuan City, Shaanxi Province, China.
According to a stock market filing dated 25 June 2021, just over two weeks after Linglong Tire announced its proposed investment in a new domestic Chinese production base, shareholders voted unanimously in support of the plans.
Shandong Linglong Tire Co. Ltd is investing 6.066 billion yuan (£669.678 million; 779.348 million euros; US$949.830 million) in its latest tyre factory. Located in Dongjiahe Circular Economy Industrial Park, Yaozhou District, Tongchuan City, Shaanxi Province the new factory will produce 12 million passenger and light-truck tyres, 3 million truck and bus radials, 100,000 aircraft tyres (including 60,000 aviation retreads) and 500,000 truck tyre retreads each year.