Seoul--Kumho Tire and joint venture partner Tianjin Economical Development Area (TEDA), will reportedly invest $185 million to build a 5-million units/year plant in the Tianjin area. The plant will make mainly passenger car tyres and is due on stream early in 2007. The company also gave details of a huge expansion at its Nanjing plant, increasing capacity to 12.6 million units/year from 3 million. The company said it expects to be the largest producer of tyres in China when the Tianjin unit comes on stream.
Kumho said its Chinese venture first reported a profit in 2000. In 2003 the unit made Won 15 000 million (â‚¬10.7 million) on sales of Won 167 000 million.
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