News from Notch Consulting, Inc.

May 28, 2018

Saudi NTC to work with Samsung on $1.6 billion tire project

Filed under: Tires — Tags: — Notch @ 5:03 pm

Saudi Arabian National Tire Co. (NTC) has awarded a contract to South Korea’s Samsung Engineering for the engineering, procurement, and construction of its planned $1.6 billion tire plant in Saudi Arabia.

NTC plans to build the factory in Jubail, an industrial city in the eastern part of the kingdom on the Persian Gulf. Production is expected to start by year-end 2020. The plant will be rated at 20 million units a year capacity, with a staff of about 4,000 employees.

NTC is an initiative of Fahad Bin Abdul-Rahman Bin Abdul-Aziz Al-Saud, a member of the Saudi royal family.

Triangle clears government hurdles for funding of new U.S. tire plants

Filed under: Tires — Tags: — Notch @ 3:56 pm

China’s Triangle Group Co. Ltd. is one step closer to breaking ground on its passenger and light truck tire factory in Edgecombe County, east of Rocky Mount, N.C.

The government in China signed off on agreements and approvals to fund the first phase of the $580 million project, a passenger and light truck tire plant with capacity for 6 million tires annually, according to Manny Cicero, CEO of Triangle Tire USA, and Marketing Director Mary Ma. All that remains is the securing of several site permits, including one for air quality, before construction can commence, they said in an interview at the company’s office in Franklin on May 22.

Triangle announced late last year that it plans to build two tire plants in the U.S. on a 1,449-acre plot of land in Edgecombe County. Phase one will be a passenger and light truck tire plant. Groundbreaking for the second plant, a 1 million tire capacity truck and bus tire facility, will begin six months after the start of construction on the first plant. The factories will share a rubber mixing facility located between them, Cicero said.

The target date for phase one completion is April 2020.

Referenced article found here.

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