17 Jan 2024
China's largest tire maker also 'in final stages of' evaluating Mexican factory
Hangzhou, China – Zhongce Rubber Group (ZC Rubber) is building a new tire manufacturing plant in Indonesia, the Chinese group has confirmed.
"We expect to have tires rolling off the production line by the end of 2024," China's largest tire producer said in a written statement to ERJ.
Furthermore, ZC Rubber is "in the final stages of evaluation" of plans to establish a tire factory in Mexico, said the statement supplied 17 Jan.
ZC Rubber did not provide further details about either project, which are part of the tire maker's long-signalled strategy to expand its manufacturing footprint overseas.
Currently, the group operates an overseas unit in Rayong, Thailand, with capacity to produce 11 million units/year of light vehicle, truck & bus, two-wheeler, earthmover and industrial tires.
ZC Rubber, which operates nine tire plants across China, last year highlighted ambitions to set up production in North America and then Europe, under a 10-year growth strategy.
The overseas expansion programme was linked to ZC Rubber's plans to launch an IPO – currently stalled due to a downturn in Chinese equity markets.
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