Seoul – South Korean industrial materials and chemicals supplier Kolon Industries has started production at a new tire cord manufacturing plant in Vietnam’s Binh Duong Province, north of Ho Chi Minh City.
The facility will have the annual capacity to produce 16,800 tonnes of polyester tire cord fabrics, bringing the group’s overall production capacity to 93,800 tonnes globally, Kolon said in an blog post in Korean language on 18 Sept.
The new plant, a two-hour drive north of Ho Chi Minh City, will supply to tire makers in the region including Hankook, Kumho and Nexen.
The Vietnam facility marks Kolon’s ninth overseas production base in addition to plants in China, Indonesia and Mexico.
The company, which also supplies to other leading tire makers, including Michelin, Goodyear and Bridgestone, said the Vietnam base would provide additional capacity with “best technology and price competitiveness”.
Kolon invested $1 billion in an airbag and automotive fabrics production plant in Binh Duong in 2016. According to the company, the new tire cord plant is the company’s biggest investment in Vietnam since 2016.