Kumho Tires plans to invest a total of $165 million in the 5.7 million square foot plant, slated for completion by the end of 2009. The plant will feature state-of-art automated facilities that provide excellent quality control and an initial capacity of 2.1 million tires for original and replacement equipment markets in the U.S, Kumho said.
Kumho Asiana Group Chairman Sam Koo Park (left) shakes hands with Georgia Governor Sonny Perdue (right) at the groundbreaking ceremony for Kumho Tire’s first U.S. plant in Macon-Bibb County, Ga.
“Establishing a production facility in the world’s biggest tire market will help Kumho respond faster to the needs of customers in the region, while also reinforcing our cost and price competitiveness,” said Sae-chul Oh, president and CEO of Kumho Tires. “We can now provide our efficient, high quality tires to U.S. consumers and an ever-growing number of major car makers faster than ever. This plant will further strengthen Kumho Tires’s global network, better positioning us to achieve our goal of becoming one of the world’s top five tire companies by 2015.”
Approximately 300 Kumho executives, State government officials and media attended the ceremony. Guests of honor included Governor Sonny Perdue, Georgia Department of Economic Development Commissioner Ken Stewart and Macon-Bibb County Chairman Charles Bishop.
With the completion of this new plant, the company will have a total of nine plants strategically positioned around the world. The company has three plants in Korea, four in China and one in Vietnam, which began operations in March of 2008. Kumho Tires plans to establish an additional plant producing truck bus radial tires in Nanjing, China.
By 2008, Kumho Tires’s production capacity outside of Korea will reach 33 million tires, exceeding domestic production by 32 million tires. Its new plants in Nanjing and Georgia will increase its total production capacity to 77 million tires by 2009, boosting total overseas production to 60% of Kumho’s total capacity, the company said. (Tire Review/Akron)