TOYO TIRE Plans New Tire Plant in China    

TOYO TIRE & RUBBER Co., Ltd. said August 27th it plans to build a new wholly-owned tire plant in China following the increasing tire demand in the Chinese market.
   The company is currently selecting location in the expectant coastal region of China.
   The proposed plant is designed to come on stream by the end of 2011, with an initial capacity of 2 million pcs/a tires for passenger car and light truck. The approximately US$106 million tire plant first phase will be expanded under the market conditions.
   In parallel, with the intention of fully-owned tire plant, TOYO TIRE has decided to terminate its joint venture agreement regarding tire manufacturing in China partnering with Cheng Shin-Toyo Tire & Rubber (China) Co., Ltd., a subsidiary of Cheng Shin Rubber Ind. Co., Ltd. (Taiwan).