Wuxi, China – China’s tire maker Jiangsu General Science Technology announced in August its plan to set up a subsidiary in Georgia, the US, pending regulatory approval.
Named General Rubber (North America), it will be a fully-owned subsidiary of General Science with $5 million registered capital. Its business covers the research and sales of tire and rubber materials and products.
This will be General Science’s first ever overseas subsidiary, the company told ERJ.
General Science also proposed in August a new truck and bus tire project with 1.2 million unit annual capacity.
Located at the company’s headquarter city in Wuxi, Jiangsu province, the project has up to €151 million (1.2 billion yuan) investment earmarked and with a construction period between two and three years.
When on stream, the project is expected to generate $13 million annual net profit on €227 million sales, said the company’s filing.