Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Expansion
February 26, 2020 12:55 PM

Linglong seeking additional funds for fourth China tire plant

Jane Ho, China correspondent
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    ZHAOYUAN CITY, China — Shandong Linglong Tire Co. Ltd. plans to raise about $285 million through a public placement on the Shanghai Stock Exchange, the proceeds of which will go toward various expansion projects.

    Linglong said it would earmark about $200 million of the new capital for the tire plant it's building in Jingmen, Hubei Province — its fourth factory in China.

    Linglong has budgeted about $450 million for the plant, which is expected to reach an annual capacity of 8 million passenger tires and 1.2 million truck and bus tires, according to a Linglong stock exchange filing.

    The Jingmen plant — which went into limited production in November 2019 — is part of Linglong's "5+3" strategy, which calls for having five plants in China and three overseas.

    When fully operational, the Jingmen plant — Linglong's fourth China — will have annual capacity for 12 million passenger tires, 2.4 million truck/bus tires and 60,000 off-the-road tires.

    Construction on the plant's first phase began in July 2018 and is slated for completion in May 2021, the company's filing read.

    The project is expected to bring in about $28 million annual net profit on sales of about $311 million.

    Linglong also is building a plant in Serbia and opened its first overseas factory, in Thailand, in 2014.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Icahn-owned Auto Plus files for Chapter 11 protection
    2
    Truck sector leads U.S. tire market; consumer down
    3
    Goodyear to trim jobs amid 'uncertain' economic outlook
    4
    SEMA urges USTR to end section 301 tariffs on Chinese goods
    5
    Gills Point S acquires Hogan Tires of Maine
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION