Kumho Gets Green Light to Build Vietnam Plant

(Akron/Tire Review – ANTARA News) Kumho Tire Co. has received approval by regional government authorities to build a $380 million tire plant in southern Vietnam’s Binh Duong Province.

Published: September 26, 2006

Production is expected to begin in March 2008, with an annual output of 3.15 million units, according to Kumho. Jongsun Sun, general director of Kumho Tire (Vietnam) Co. Inc., said the tiremaker would invest $155 million for the first phase of the project, which will begin next month.

Tires produced at the plant will be sold locally and exported to the U.S., Europe and Southeast Asian countries. Kumho officials said the tiremaker also plans to build a rubber processing plant in the province.

Kumho exchanged an investment memorandum of understanding with authorities in late March. The project is the biggest foreign direct investment project licensed in the province. The tiremaker already has three tire plants in South Korea and two in China.

The commercial tire market is cautiously recovering from 2023 challenges

To better understand commercial tire expectations for the remainder of the year, Tire Review recently sat down with Pierluigi Cumo, VP of B2B products at Michelin North America.

By David Sickels

David Sickels is the Editor of Tire Review. He has a history of working in the media, marketing and automotive industries in both print and online.

Published: May 1, 2024

Despite a tough commercial tire market in 2023 due to overstock and and the effects of a rubber-banding supply chain, some tire manufacturers are expressing a cautious optimism for stabilization and gradual recovery through the rest of 2024 and into 2025. North American fleets are focusing their efforts on operational efficiency and profitability amidst lower shipping rates.