By Jane Ho, Crain News Service
ANHUI, China (Aug. 27, 2014) — Anhui HeDing Tires Technology Co. Ltd. has commissioned production at its new factory in Bengbu, Anhui, province, 17 months after beginning construction on the $323 million project.
The plant, in the Huaiyuan Economic Development Zone in Bengbu, is designed to produce up to 4 million high-performance steel-belted radial tires annually in the project’s first phase, company officials said. The first tires were produced July 29.
The company reportedly invested $145 million in this first phase of a what eventually will become a 12 million tire-per-year factory. Total investment is projected to be $323 million. The timeline of the second and third phases is yet to be set, the company said.
When completed, the project is expected to generate $48 million in profit on $645 million in annual revenue.
Anhui HeDing was established in 2011, according to the company’s website.
The site does not identify which brand name or names it uses.
The U.S. Department of Transportation’s list of tire plant identification codes does not list a code of Anhui HeDing.
Jane Ho is a special correspondent for European Rubber Journal, a U.K.-based sister publication of Tire Business.
How have tire prices been in the last few months?
|They've gone up 1-5%||
|They've increased 6-10%||
|They've stayed flat||
|They've gone down between 1 and 5%||
|They've gone down 6-10%||
|They've dropped more than 10%||