RUGAO, ChinaDouble Coin Holdings Ltd. plans to spend $250 million (1.5 billion yuan) to increase capacity for low-rolling-resistance radial truck tires by 2018 at its Double Coin Holdings Jiangsu Tire Co. factory in Rugao.
The expansion will include installing fully automated tire building equipment and increasing radial truck/bus tire capacity to 4.2 million units annually from 2.5 million units today, said Fan Xue Feng, deputy general manager of the plant.
Mr. Fan revealed the expansion during a briefing prior to a tour of the plant Aug. 27 for the U.S. tire trade press.
Double Coin will construct a new building for the expanded capacity on land it owns behind the Rugao plant. The expansion will include additional mixing capacitywhich already is under constructionand the hiring of 700 additional workers.
Currently the plant employs 1,950.
In addition to truck and bus radials, the Double Coin plant produces off-the-road and agricultural tires.