PRESS ROOM
Kumho Tire Vietnam and U.S. Manufacturing Expansion 03/26/2021
ATLANTA,
GA.
(March 26th,
2021) – Kumho
Tire, one of the world’s leading tire manufacturers,
announced today that they will be
investing $305
million to expand upon their Vietnam tire plant and expects to
double its production
capacity by 2023. Upon the completion of
the expansion in Vietnam, the company forecasts to produce at least
9.3 million
tires per year.
The project for
expansion will
gradually be funded beginning from the third quarter of 2021 through the
first
quarter of 2023 in which a new section of the building will be added to
the vacant
lot space currently within the overall facility compound.
Kumho Tire is currently
operating eight manufacturing facilities located in Korea, China, the
U.S. and
Vietnam.
“As a company, we are heading in a very positive direction and part of our strategy is to increase our production capacity ahead of the growing demand in order to ensure product availability for our customers and support the continued growth of partnerships in the North American market.”, said Il Taik Jung, President & CEO of Kumho Tire.
About
Us
As
one of the world's largest
tire manufacturers, we have more than 60 years of history immersed in an
innovative approach to product development, market expansion, technical
progression, and environmental awareness. We are dedicated to providing
optimal
service and delivering an exceptional driving experience to our
customers
around the world. Headquartered in Atlanta, Georgia, Kumho Tire USA
is the
US sales, marketing, product development, and distribution arm of Kumho
Tire
Co. Inc.
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Contact
Us
Marketing Department, Kumho Tire USA, 679.916.3255, Marketing@KumhoTireUSA.com