Guizhou Tyre to set up tyre plant in Vietnam

Guizhou Tyre Co. Ltd. intends to build a truck tyre factory in Vietnam. Chinese industry publication Tireworld writes that the company will invest RMB 1.67 billion (£189.3 million) in the project, which will result in a plant capable of manufacturing 1.2 million all-steel radials per annum. The intention is to set up the factory in the Long Jiang Industrial Park, some 30 miles from Ho Chi Minh City; Tireworld says a 20-hectare site has been selected, with construction commencing in the coming 12 months.

The company’s board has reportedly approved the investment, and the proposal will be presented at an upcoming shareholders meeting.           _sg