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Kumho Set on New Plant in Vietnam

(Akron/Tire Review) Confirming earlier reports, South Korea’s Kumho Tire Co. announced today that it will build a new $155 million tire plant in Vietnam.

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According to the Korea Times, the new plant will come onstream in 2008 with an annual capacity of 3.2 million tires.

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Kumho signed a memorandum of understanding with Vietnam’s state-run builder Becamex in Binh Duong province to establish the wholly owned plant there. Construction on a 314,000-square-meter site just north of Ho Chi Minh City will begin in the second half of this year.

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