Suppliers

Kumho plan for U.S. plant is back on track

Posted on June 24, 2014

A spokesperson for Kumho Tire U.S.A. Inc., the U.S. subsidiary of South Korea-based Kumho Tire Co. Ltd., said the company has resumed its plan to open a production plant in the United States that had been suspended for six years.

In May 2008, Kumho broke ground in Bibb County, Ga., on a 5.7 million-square-foot facility that would cost $165 million and produce 2.1 million tires annually. The company went into a debt workout program in 2009 and postponed its plans for the plant.

Now the company has confirmed that a formal request for funds has been made to creditors, and it has asked its banks, including the Korea Development Bank (KDB), to approve a loan to build the plant; lenders held a meeting last week.

In 2009 the company reported operating losses of $117.3 million, which it managed to turn around into a profit in 2010 and has been generating operating profits each year since.

For more Kumho news see:

Kumho will be OE on some Chrysler 200 models

Kumho doubles dealer program payouts

Kumho is the NBA's official tire

Related Topics: Kuhho U.S. plant, Kumho financials, Kumho Tire Co. Ltd., Kumho Tire U.S.A. Inc.

Comments ( 0 )
More Stories
Titan says the full-depth tread across the TGS2's entire surface provides better traction in all weather.
News

Titan Adds All-Season Tire for Skid Steers

Titan International Inc.is adding an all-season bias tire for skid steers to its TGS2 lineup. With a focus on snow removal and landscaping, the tire's open-shoulder tread design and full-tread depth are designed to provide traction in snow, ice and mud.

News

BKT Is Named Port Tire Manufacturer of the Year

Balkrishna Industries Ltd. (BKT) received a port tire manufacturer of the year award for port and terminal cargo handling equipment at the Terminal Operator Excellence Awards 2016 in Dubai, UAE.

News

Discount Tire Expands in Houston Metropolitan Area

Discount Tire has added a store in Sugar Land, Texas. It is the third Discount Tire outlet in Sugar Land, which is part of the Houston metropolitan area, and the 12th location in Fort Bend County.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!