Rayong, Thailand – The Thai plant of Shanghai Huayi (Group), the holding company of Chinese tire maker Double Coin, produced its first tire during trial run in June.
Located in Rayong’s rubber industrial zone LK-RICH, the new plant has 1.5 million truck and bus tire annual capacity and 50,000 industrial tire annual capacity.
According to the website of the plant’s contractor Sinohydro Foundation Engineering, the project has been on schedule and the production of the first tire “marks Huayi’s official entrance into the Thailand market.”
The plant is a joint venture between Huayi and Bangkok-based Tribeca Enterprise, a subsidiary of rubber company Thai Hua group.
Started in mid-2016, the project had $300 million (€260 million) investment earmarked and is expected to bring in $400 million (€348 million) sales when it comes on stream.