Kumho May Sell Vietnam Plant

Kumho is in negotiations with Bridgestone to sell its recently finished tyre manufacturing plant in Vietnam, according to a report issued by Jaccar, a global investment firm. Kumho invested $155 million in the plant, which was completed in 2008 and has an annual production capacity of 3.15 million tyres. The tyre-maker has said it planned to export tyres manufactured in the Vietnam plant to southeast Asia, Europe and the US. Jaccar reported Kumho is negotiating the plant’s sale due to liquidity crunches resulting from the current “global financial turmoil.” (Tire Review)