Thai JV project “running according to plan”, says Hangzhou Zhongce
Senior management at Hangzhou Zhongce have responded to a Bangkok Post article that suggests its joint venture plans with Thailand’s Thai Hua Rubber have been placed on hold. Tyres & Accessories was told that management has “no idea” why its Thai partner claims Hangzhou Zhongce is postponing its joint venture tyre factory plan due to “concerns about the uncertain outlook in Europe.”
In an e-mail, Tyres & Accessories was informed that the “project is running according to plan” and at present the partners are in the final stages of deciding upon a site for the new facility. Pouring cold water upon the idea that concerns over Europe have influenced the joint venture plans or schedule, Hangzhou Zhongce management pointed out that the plant will first and foremost serve the Asian market, and may also export to North America should US anti-dumping measures against Chinese products still be in place when it enters operation. Europe is not a stated priority market for the planned Thailand factory.
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