1 Nov 2004
Beijing--A report on AFX news wire says Shanghai Tyre and Rubber is proposing to invest a total of Yuan 263 million (€25 million) in two separate expansion projects.
The biggest project, according to AFX, is Yuan 178 million to expand capacity at Rugao Tyre and Rubber Co Ltd by a further 300 000 "sets" of tyres (tyre and tube). The second project for Yuan 85 million in Shanghai Michelin Warrior Tire Co. STARC owns 28.5 percent of the joint venture with Michelin, and the proposed investment is to buy equipment and increase overall capital.
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Website of Shanghai Tyre and Rubber
AFX story
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