Chinese Tire Maker Will Invest up to USD179 Million to Build Production Lines
Dou Shicong
DATE:  Aug 04 2017
/ SOURCE:  Yicai
Chinese Tire Maker Will Invest up to USD179 Million to Build Production Lines Chinese Tire Maker Will Invest up to USD179 Million to Build Production Lines

(Yicai Global) Aug. 4 -- Chinese tiremaker Jiangsu General Science Technology Co. [SHA:601500] (JGST) will invest up to USD179 million (CNY1.2 billion) to build production lines.

The Wuxi-based firm said yesterday that it will set up an all-steel radial tire project with an annual capacity of 1.2 million tires in an industrial park in Jiangsu province's Xishan district. The facility will take two to three years to construct, generate about CNY1.8 billion in revenue per year once it is operating at full capacity and achieve a net profit of CNY100 million, JGST projects.

JGST said in a separate announcement that it will invest up to USD5 million in Georgia, US to set up General Rubber (North America) Co., which will research, develop, sell, import and export rubber and tires. The company said its efforts to boost its North American market presence will help it attract top talents with a global vision and speed up the development of new products and technologies.

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Keywords:   GS,Tire,Investment,US