Sailun to invest €180 million in Vietnam tire project
11 Dec 2015
Share:
Qingdao, China – Sailun Jinyu Group has announced it is to pump up to $200 million (€182 million) into a new Vietnam project containing 1.2 million unit/year TBR capacity and 30,000 tonne/year OTR capacity.
The project will be implemented by the company’s fully-owned subsidiary Sailun (Vietnam) in Gò D?u, Tây Ninh province and built at its current site, according to Sailun’s announcement on 10 Dec.
Construction of the new project is scheduled to take three years, and the new facilities are expected to bring in $23 million annual profit on $250 million revenue when in operation.
The project will be able to tap into Vietnam’s local natural rubber resources, and the products are planned for Vietnam as well as overseas markets such as South America, North America and Europe with protective trade policies against Chinese tires, said the announcement.
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
Unlimited access to ERJ articles online
Daily email newsletter – the latest news direct to your inbox