By Jane Ho, Crain News Service
GUIYANG, China (Aug. 27, 2015) — Guizhou Tyre Co. Ltd., producer of the Advance and Samson tire brands, is building a specialty tire plant complex in Xiuwen, China, where it plans to relocate production from three of its existing factories together with new capacities.
Construction started this January and the plants are expected to begin operation in 2017, the company's board secretary Li Shangwu told European Rubber Journal, a sister publication of Tire Business.
The company has earmarked $225 million for the project, which is expected to generate $40 million annual profit on $515 million sales when in operation.