Casumina to construct new pcr plant

Vietnam’s Southern Rubber Industry Joint Stock Company, or Casumina, has reportedly signed a Memorandum of Understanding with a US partner and will erect a new passenger car tyre factory. Work on the new plant should begin before the end of the year and the project’s stated total cost is VND3.7 trillion (around £112 million), including an investment of some £19 million from the US partner. The factory is expected to enter operation late in 2012 and have an annual output of 1.5 million tyres per annum. Two thirds of the new factory’s output is said to be earmarked for the US market; other named export markets are Canada and Australia.