Kumho Tires Starts Construction of Manufacturing Plant in Georgia
Posted on: Tuesday, 13 May 2008, 12:00 CDT
Kumho Tires has started construction of its sixth overseas manufacturing plant, located in Bibb County, near Macon, Georgia.
Kumho Tires plans to invest a total of $165 million in this 5.7 million square foot plant, slated for completion by the end of 2009. With an initial capacity of 2.1 million tires for original and replacement equipment markets in the US It is expected that the plant will provide more than 200 jobs when it opens.
The company said that with the completion of this new plant, it will have a total of nine plants strategically positioned around the world. The company has three plants in Korea, four in China and one in Vietnam, which began operations in March of 2008. Kumho Tires plans to establish an additional plant producing truck bus radial tires in Nanjing, China.
By 2008, Kumho Tires's production capacity outside of Korea is expected to reach 33 million tires, exceeding domestic production by 32 million tires. Its new plants in Nanjing and Georgia will increase its total production capacity to 77 million tires by 2009, boosting total overseas production to 60% of Kumho's total capacity.
Sae-chul Oh, president and CEO of Kumho Tires, said: "Establishing a production facility in the biggest tire market will help Kumho respond faster to the needs of customers in the region, while also reinforcing our cost and price competitiveness."
Source: Datamonitor
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