Sumitomo Rubber Industries Ltd. plans to invest $122 million to increase daily production capacity from 8,250 tires to 14,300 tires for passenger cars, light trucks and medium trucks at its plant near Buffalo, N.Y.
As more foreign tire manufacturers build consumer tire plants in the U.S., analysis shows each one needs to produce 6 million tires a year in order to be profitable. But even more critical is each tire's price point.
Yearly tire capacity, not production, in North America totaled 334.8 million tires at 62 plants as of Jan. 1, 2018. That’s up 4.9% compared to 2017, when capacity was 319.1 million tires. (The total does not include race or aviation tires.)
Nokian Tyres plc is increasing production capacity for its Heavy Tyres unit, and will invest about 70 million euro — close to $83.1 million — in the next three years.
Triangle Tyre Co. Ltd. has selected EdgeCombe County in North Carolina as the location for its first manufacturing facility in the United States. The plant represents an investment of nearly $580 million by the tire company and will employ up to 800 people when fully operational.
Following leaks from South Carolina in early June that Orangeburg County is expecting an investment of $1 billion from a Chinese company named “Wanli,” many in the tire industry wanted to know more details. Chief among them was the question, “Who on earth is Wanli?”
Last December, Balkrishna Industries Ltd. (BKT) held grand opening ceremonies for its new off-highway tire plant in Bhuj, India. Modern Tire Dealer’s Editor Bob Ulrich was there and reported on the event in our January issue, along with several online reports.
Kumho Tire Co. Inc. celebrated its new American hometown, and its long-awaited leap into U.S. tire manufacturing, with the grand opening of its passenger tire plant on May 2, 2016.
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