QINGDAO, China (Dec. 5, 2016) — China's Qingdao FullRun Tyre Corp., producer of the Antyre, Autogrip, Carbon Series, Fullrun, Fullway, Highplus and Turnpike brands, is planning to build its first overseas plant, in Malaysia, the company disclosed recently.
Negotiations between FullRun and Malaysian officials began during summer, the Qingdao-based firm wrote in a statement posted on its website, and finalized in late September. The company said the facility, which it is calling “Jinma Rubber & Tyre Tech Corp. Ltd.,” was being considered as part of its “internationalization process.”
FullRun did not elaborate on its plans for the new plant, but Malaysia's Star Online reported Dec. 2 that FullRun's memorandum of understanding with the Malaysia Industrial Development Authority calls for an investment of $200 million in the new plant, which it said would be built in Port Klang Free Trade Zone (PKFZ).
Quoting the FullRun president Liu Zijin, the newspaper said the company will create 300 local jobs while bringing some 20 technical staff from China.
No details on the capacity of the new plant have been disclosed.
Fullrun produces passenger, light truck, medium truck, agricultural and OTR tires at its plant complex in Qingdao's Hongdao Economic Zone, which opened in 2006.
The company claims annual sales of more than $400 million.
Fullrun does not list any agents for North America; Parrish Tire Co., however, lists the Carbon Series and Turnpike as brands it carries.