China Information

Thursday, December 14, 2006

Large Taiwan-based Tire Company Cheng Shin to Invest USD120m in the Mainland Next Year

Taipei sources: Cheng Shin Rubber Ind. Co., Ltd., which was just raked as the 12th global tire factory, would take a major investment action with a large layout. Cheng Shin would throw USD120m in the newly establishment of tire testing field, covering 100 Jia in Kunshan of the mainland, expansion of Haiyan Plant in Xiamen, and replacing old production equipment with new ones in each plant. As reported in China Business Times, Haiyan plant would invest USD30m more to increase the daily production capacity of all-steel radial truck tires from the current 2000 to 4000, which would be fulfilled by the end of next year; by that time the annual production value of Haiyan plant would be increased from the current RMB4b to RMB8b, which would be one of the key factors driving the revenue of entire Cheng Shin Group operation exceeding TWD50b next year. In order to enter into the rank of major international tire companies, Cheng Shin Rubber Group will establish a tire testing field covering 100 Jia in Kunshan of the mainland. It’s expected to be the biggest global tire testing field after five years development.

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