Federal Corp. has broken ground for a $300 million tire plant in Taoyuan Industrial Park in Taiwan.
The company says the 150,694-square-foot facility will be developed in two phases between 2014 and 2020. Once the plant is fully operational, it will employ some 900 people making an estimated maximum of 6 million tires a year.
The new plant is the company’s third.
Numerous achievements throughout the past six decades paved the way to this new investment, according to Da-Wu Chen, Federal’s global sales and marketing director.
“Building a new factory marks a new chapter on Federal's global growth strategy and displays Federal's ambition to march toward a centurial success."
The company is celebrating 60 years in business in 2014. Federal’s Diamond Jubilee makes the groundbreaking more meaningful, says Da-Wu Chen.
“We are proud of our heritage as the first tire manufacturer to make passenger car radial tires in the Greater China area. Sixty years are filled with legends and stories. Sixty, like the end of a clock round, symbolizes a new beginning of an era.
“It's a brand new start for Federal, and we believe that with the solid corporate structure and our firm commitment to product quality, Federal will kick off another prosperous sixty years.”
Federal Tire was founded in Taiwan in 1954 and manufactures tires for the UHP, SUV, LTR, and PCR lines. For more information, visit www.federaltire.com.
