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Report: China’s SAIC strong Kumho bidder

Seoul – Shanghai Aerospace Industry Co. (SAIC) is the strongestt contenders to bid for Kumho Tire, according to various news reports.

Business news website Pulse Today, citing “multiple sources from the investment bank industry”, that the Chinese bidder had placed the highest price in the preliminary bid that took place in November to acquire a controlling 42% of the second Korean tire maker.

SAIC is a unit under China’s state-owned China Aerospace Science and Technology Corporation (CASC) which specialises in aerospace and automotive industry.

According to Korea Herald,…

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