South Korean tire maker, Kumho, said its plant in Chuangchun City, the Jilin Province in northeastern China, has been completed. Its annual production capacity is 3,150,000 units of tires, and the products will be mainly distributed to FAW-VW, the joint venture of Chinese FAW and Germany VW. Kumho said it will increase investment of 108,000,000 USD to boost its production capacity to 6,300,000 units, based on the original investment of 150,000,000 USD.
Earlier, Kumho had two plants in China, one in Nanjing and the other in Tianjin municipality. By the end of 2006, Kumho’s annual production was 17,500,000 units. Kumho hopes the Changchun plant will help to increase its production capacity, through which Kumho could rank No. 8 in the top ten tire makers in 2009, with an annual increase of 12% or more.
