The $90 million plant, according to Kumho, is expected to be completed during the second half of 2008 and will have an annual capacity of 300,000 tires.
The May 16 groundbreaking ceremony, according to Kumho, was attended by more than 300 guests, including Kumho Asiana CEO Park Sam-Koo, and Kumho Tire president Dr. Sae-Chul Oh. The new truck/bus facility will give Kumho four tire plants in China to go with its three in South Korea and one in Vietnam.
Kumho Tire plans to aggressively pursue the Chinese tire market, said Dr. Oh, on both the passenger and truck tire sides. “The automobile market inside China has grown rapidly,” said Dr. Oh. “The demand for TBR tires has increased as a result of city development in China.”
