Cologne, Germany - Triangle Tyre is to announce the building of a new factory in the US very soon, according to David Shaw of Tire Industry Research.
Speaking at the ERJ Future Tire Conference 2017, held 27-28 June in Cologne, the market expert said a meeting on the project was scheduled at Triangle Tyre’s HQ in Weihai, Shandong on 28 June.
“They will almost certainly announce that [investment],” added Shaw, who specialises in analysing developments in the Chinese tire industry.
Triangle announced in May that it had selected a property in Madison, Tennessee, as the site for its first US warehouse and that it was evaluating other sites around the country for additional distribution capacity.
The facility will open with 53,000 square feet available and room for expansion, Triangle said.
"Opening our first warehouse here is an important step toward our goal of establishing strategic, long-term relationships with key distributors and dealers across the US," said Manny Cicero, CEO of Triangle Tire USA at the time.
Triangle opened its North America HQ in Franklin, Tennessee, south of Nashville in early 2016.
The ERJ/Tire Business Global Tire Report 2016 ranks Triangle Group as the No. 15 tire maker worldwide, based on 2015 sales of $2.44 billion.