25 Mar 2024
No decision made as yet, South Korean tire manufacturer to update investors by middle of April
Seoul – Kumho Tire Co. has confirmed that it is still weighing up plans to build a tire production factory in Europe – as first reported by ERJ in early January.
The confirmation was issued in a stock exchange filing: responding to more recent Korean press reports of a KRW1 billion (€680 million) investment project in Europe.
In the 18 March disclosure statement, the Korean number 2 tire maker said it is “considering opening a new factory in Europe.”
But "no specific decision has been made regarding the amount and timing of the investment," added the Kumho document, citing senior vice president Kim Jun-seok.
Kumho’s statement did not provide any details about the planned project, but said the tire maker would update investors about its decision by 17 April.
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