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  • Written on 11.04.2014 - Industry
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TAIWAN: Increased demand prompts tire maker to plan spending

Cheng Shin Rubber Industrial Co., the world’s ninth-largest tire maker, said it plans to spend USD 500 million this year because of growing demand.

The company plans to build new factories in Yunlin County, as well as in Indonesia and China’s Chongqing and Fujiang provinces, vice president Wu Hsuan-miao said.

"Our utilization rate is close to 100 % and there is no way to see significant revenue growth unless we expand our capacity,” Wu said at an investors’ conference in Changhua County.

The company did not elaborate on its capacity expansion, adding that the plan has not yet been approved by its board members.

Cheng Shin is confident it will acquire 30 hectares of land in Indonesia this year on which it plans to start building a factory next year to cut costs.

Source: Daily “Taipei Times”, Taipei; 9 Apr 2014
(Syed Rashid Ali, Karachi, Pakistan)


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