Kumho Tire Co. Inc. has broken ground on a new $90 million truck and bus tire plant in Nanjing, China, that will be completed during the second half of 2008. The factory will make 300,000 tires a year.
According to Kumho Tire President Sae-Chul Oh, Kumho plans to aggressively pursue the Chinese tire market by diversifying its export market strategy and expanding production to include truck and bus tires.
"The automobile market inside China has grown rapidly," he says. "The demand for truck and bus tires has increased as a result of city development in China."
By the end of 2008, Kumho will have four factories in China, three plants in Korea and one plant in Vietnam that will have a total combined production capacity of 64 million tires per year.
