CHONBURI, Thailand — Prinx Chengshan Tire Co. Ltd. has inaugurated production of truck tires at its $300 million plant in Chonburi a year after breaking ground and a few months ahead of schedule.
Workers at the Chonburi factory started production March 25, the Rongcheng, China-based company said, noting the plant's projected annual output for radial truck tires will be 800,000 units at full capacity.
The plant also eventually will have annual capacity for 4 million passenger and light truck tires.
Prinx Chengshan called the "successful completion" of this factory a "new impetus for the global development of Prinx Chengshan.
The operations in Thailand are directed by Prinx Chengshan Tire (Thailand) Co., Ltd. The company — considered the world's No. 35 tire maker with about $800 million in annual sales — broke ground on the plant in
Separately, the company reported 7.2% and 7.4% gains in operating income and sales in 2019 over 2018 to $155 million and $804 million, respectively.