Vietnam factory: Guizhou Tyre establishes subsidiary

It’s almost two years since we first heard of Guizhou Tyre Co. Ltd’s intention to establish a plant in Vietnam, and plans have been taking shape since then. On 4 March, the Chinese tyre maker’s Board of Directors approved the establishment of a new wholly-owned subsidiary.

According to a statement issued by the Shenzhen Stock Exchange the following day, Advance Tyre (Vietnam) Co. Ltd. has been established with a registered capital of US$42.9 million. The entity represents the plant Guizhou Tyre is setting up for the manufacture of all-steel truck and bus radials (TBR) and other products; this plant is being built on a 297,000 square metre site in the Long Jiang Industrial Park, some 50 kilometres southwest of Ho Chi Minh city.

Guizhou Tyre reported in 2017 that it would invest almost US$400 million in the project. The planned investment for the first phase alone was $245 million and will provide a capacity for the manufacture of 1.2 million TBR tyres a year. A further two phases will give the plant additional capacities for heavy-duty and specialty tyres.

In addition to Advance, Guizhou Tyre manufactures tyres under the Samson, Tornado, Chinhoo and King Kong brand names.

Comments
Comments closed

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.