Kumho Tire confirms plan to build factory in China

Changchun, China–Kumho Tire Co. Inc. has confirmed that it intends to build a passenger tyre plant in Changchung–its third in China–over the coming 18 to 24 months at a cost of $150 million.

Kumho will partner with Chinese car maker FAW Group Corp. to finance the factory, although Kumho said it will contribute up to 90 percent of the funding. The facility, to be on-stream by the first half of 2007, will have a capacity of 3.1 million tyres a year, Kumho said.

The plant will supplement…

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