Gemstar lays foundation stone on new tyre plant

ERJ staff report (DS)

Jilin, China - A new tyre company has laid the foundation stone for a 5-million unit/year car tyre plant in Jilin High-Tech Zone. Gemstar Tire Co Ltd plans to invest a reported yuan 33,000 million (euro 4000 million)* on the plant, which is due on stream by the end of 2014.

The company is a joint venture between a number of Jilin-based chemical and industrial companies.

* ERJ suspects this figure has been mis-translated and is more likely to be yuan 330 million (euro 40 million)

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News story from CRIA (Chinese language)

Above story auto-translated (from Chinese language)