Signing ceremony of the investment memorandum for Linglong Tire's new tyre factory in Serbia (Source: Linglong Tire)
Linglong Tire to build tyre plant in Serbia
On 23 August 2018, Shandong Linglong Tire Co., Ltd. signed an investment memorandum with Goran Knežević, Serbian Minister of Economy, to construct a tyre factory in Serbia. Mr. Vučić, Prime Minister of Serbia, and Li Manchang, Chinese ambassador in Serbia, attended this signing ceremony.
The new plant will be the company’s second overseas manufacturing base, located in the Zrenjanin Free Trade Zone in Serbia. The project involves an investment of USD 994.41 million and is expected to reach an annual capacity of approximately 13.62 million radial tyres.
Linglong Tire said that Serbia is the first country in Central and Eastern Europe to establish a strategic partnership with China. According to the company, the site was chosen after extensive research and careful comparison in order to avoid trade barriers, further enhance its international competitiveness, and expand in overseas markets – particularly in Europe. The Serbian manufacturing base is expected to reduce transportation costs to various OEM and retail distributors as well as shorten delivery times, e.g., to Volkswagen’s European plants.
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