Linglong raises funds for factory automation

Yantai, China – Linglong is raising up to €259 million (2 billion yuan) through convertible bonds to fund the automation of its tire plant in Liuzhou, Guangxi as well as make up for its cash flow, said the company’s filing last week.

About €195 million will be pumped into the ongoing Phase-One construction of the Liuzhou plant, which has expected annual capacity of 10 million unit for passenger car tire and 1 million unit for truck and bus tire. Phase-Two has the same capacity planned.

As of…

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