The Kumho Group's announced $20 million development center in China also will be the headquarters of Kumho's overseas production bases.
The company's latest investment in the Tianjin Economic and Technological Development Area (TEDA) will host 300 senior researchers. It follows last year's announcement that the company was building a $315 million radial passenger tire plant in two phases in the same area.
Kumho, under the supervision of the newly created Tianjin Kumho Tire Co. Ltd., is investing $185 million in the first phase of the plant's construction. The facility is expected to manufacture 5.25 million tires per year beginning in July 2006.
An additional $130 million will be invested in phase two, when production capacity is almost doubled to 10.4 million tires per year.
The project covers a total area of about 310,000 square meters, according to the company.
Tianjin Kumho Tire Co. will offer products to vehicle manufacturers in northern China and agents in north and northeast China. "It will adopt internationally advanced production technologies, equipment and anti-pollution measures, ensuring all pollution emissions meet the environmental protection standards of Tianjin and China, in a move to develop itself into a 'green enterprise' within the tire industry," adds Kumho.
