Taoyuan, Taiwan – Federal Tyres has officially broken ground on the construction of $ 300 million tire plant in Taoyuan Industrial Park, Taiwan.
Construction on the 14 ,000 square metre site is slated to be developed in two phases between 2014 to 2020. Once the plant is at full operation it will employ some 900 people making up to 6 million tires a year.
“Building a new factory marks a new chapter on Federal's global growth strategy and displays Federal's ambition,” said Da-Wu Chen, global sales and marketing director.
“With the new plant, we can not only grow our business but also meet our client's needs, " he added.
Noting that 2014 is Federal Tyres’ diamond jubilee year, Da-Wu Chen dded: “We believe that with the solid corporate structure and our firm commitment to product quality, Federal will kick off another prosperous sixty years.”