Kumho to Build Tire Plant in Vietnam - Tire Review Magazine

Kumho to Build Tire Plant in Vietnam

(Akron/Tire Review) Kumho Asiana Group, South Korea's airline conglomerate, said today it will begin a construction project and build a tire factory in Vietnam in a bid to tap the Southeast Asian market, the country's news agency Yonhap reported.

Kumho to Build Tire Plant in Vietnam

(Akron/Tire Review) Kumho plans to build a $100 million tire plant in the city of Ho Chi Minh, reported Vietnam newspaper Thanh Nien Daily.

Kumho Engineering and Construction Co., the group’s building arm, plans to hold a ceremony Wednesday marking the construction of a residential and commercial complex, Kumho Asiana Plaza, including a 21-story hotel and 32-story apartments in Ho Chi Minh City. The company is to invest $260 million U.S. in the project for completion by October 2009, the group said.

On the same day, Kumho Tires Co., South Korea’s No. 2 tiremaker, will hold a ceremony to mark the construction of its fourth overseas plant in Vietnam’s southern city of Binhduong with an annual production capacity of 3.15 million units. Once the factory is completed in the first half of 2008, Kumho Tire’s aggregate production capacity, comprising both domestic and overseas output, will be 57 million units, the group said.

Kumho Tires is to invest $150 million U.S. in the plant, which will be equipped to turn out ultra-high-performance tires for passenger cars. The output from that plant will be shipped to markets in Southeast Asia and the United States, the group said.

You May Also Like

Production is slated for domestic use as well as exports to neighboring countries, the paper said.

From Wire Reports

You May Also Like

Nokian Tyres Holds Innovation Challenge Finals

Sustainability at the top of mind for Nokian Tyres during its innovation challenge.

Nokian-Tyres-1400

Last year, Nokian Tyres launched the Fast Race, Big Change sustainable tire innovation challenge. The company said the purpose was to find new sustainable ideas and solutions from across the world and the industries to be put into production in future Nokian tires. The winner chosen among the four finalists will have the opportunity to collaborate with the Nokian Tyres R&D experts to craft their idea into reality and be part of Nokian Tyres’ sustainability story stretching across the decades.

Apollo Tyres Receives ISO Certification for Sustainability

Apollo Tyres underwent a three-stage assessment for the certification.

apollo-chennai-india-plant-sustainability
Discount Tire Announces ‘Defending Daytona’

The series will highlight Austin Cindric, driver of the No. 2 Discount Tire Ford Mustang, as he prepares to defend his title at the Daytona 500.

Discount Tire Defending Daytona
Hunter’s BL Series Bench Lathes Now Connects with HunterNet 2

With the new connectivity, shop owners and managers will be able to view before and after-cut results for rotors and drums online.

brake-bl-bench-lathe-hunter-engineering
GRI Receives US DOT Certification for Safety

GRI tires will now have a DOT code embossed on their sidewalls.

DOT-CERTIFICATION-GRI-Tires

Other Posts

Five Tire Trends You Need to Know

We’re talking about recent industry trends that you can take advantage of when running your tire business.

RwtN Featured Image EP20
BKT Launches New Website

Each product page now contains more information, including videos and links to case studies.

BKT website
Pirelli Revs Up for 2023 Motorsport Season in the US

The Italian tiremaker is set to participate in 10 North American motorsport championships.

Pirelli-Motorsport
Fortune Tires Debuts new US Dealer Website

Current Fortune dealers can access a range of dealer resources, including product information and marketing materials.

Fortune-Tires-new-website