Qingdao, China – Chinese tire-maker Qingdao FullRun Tyre Corp. is planning to build its first overseas production plant in Malaysia, the company has announced.
Chinese tire maker to set up $200m plant in Malaysia
In a company statement, dating back to late September, the Chinese company said that the facility was being constructed as part of its “internationalisation process”, which will include the setting up of Jinma Rubber & Tyre Tech Corp. Ltd in May 2017.
According to FullRun, the decision to build the plant in Malaysia was made on 28 Sept after two months of "interviews and site visits".
Malaysia’s The Star Online announced in a report on 2 Dec that FullRun had signed a memorandum of understanding to invest $200 million (€187 million) in the new plant, which it said would be built in Port Klang Free Trade Zone (PKFZ).
Quoting the FullRun president Liu Zijin, the newspaper said the company will create 300 local jobs while bringing some 20 technical staff from China.
No details on the capacity of the new plant has been given.