Kumho responds to reports of European tire plant ‘decision'

London – Kumho Tire Co. Inc. has rebuffed suggestions that the Korean tire maker has decided to establish a production facility in Europe.

At a recent meeting with US tire dealers, officials ‘let slip’ that Kumho Tire’s board had approved plans to build a European plant, a well-placed source informed ERJ.

In response to ERJ’s enquiry, a Kumho Tire executive stated: “At this time, I would like to inform you that no official decisions have been made regarding [a] plant in Europe.”

“We are currently in the process of exploring various options as part of our ongoing efforts to provide the best possible service to our valued customers.”

Soeul-based KumhoTire is estimated to be the world 16^th largest tire manufacturer, with annual tire-related sales of around €2,800 million in 2022.

With a 45% stakeholding, Quigdao Doublestar Tire Co. Ltd of China is the controlling shareholder in the Korean tire maker.

As well as three major tire plants in South Korea and three in China, Kumho Tire operates a plant in the US, at Macon, Georgia, for the manufacture of light vehicle tires.