Saturday, September 23, 2006

Automotive: Korea to build $380 million tire plant in Vietnam

The Republic of Korea's second-biggest tire maker Kumho, is to build a US$380 million automobile tire factory in southern Vietnam.

The company is expected to start work on the facility in late October in the southern Dong Nai Province's My Phuoc Industrial Zone.

The factory will produce 3.1 million auto tires a year for both the local market and export to the US, European and ASEAN markets.