6 Dec 2017
Qingdao, China – Sailun is planning to increase its investment in its Vietnam plant by €121 million, according to a company filing on the Shanghai Stock Exchange.
With 1.2 million-unit truck and bus tire annual capacity and 30,000-unit off-the-road tire annual capacity, the unit will have total registered capital of €187 million.
Such investment is funded by the company’s private placement in November, raising €165 million capital.
The rest of the funds will be used to supplement cash flow, said a Sailun filing.
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