News from Notch Consulting, Inc.

February 2, 2018

GRI opens tire factory in Sri Lanka

Filed under: Tires — Tags: — Notch @ 1:43 pm

Global Rubber Industries Pvt. Ltd. (GRI) officially opened its specialty tire manufacturing plant in Badalgama, Sri Lanka on Jan. 25, 2018. Located next to its solid industrial tire factory, GRI broke ground on the $40 million facility in January 2017.

The 1.25 million sq.-ft. plant has a rated capacity of 25 metric tons a day, making it the largest factory in Sri Lanka dedicated to making specialty tires and the first to produce radial agriculture tires, according to GRI. Ag tires will comprise approximately 70% of the state-of-the-art, highly automated plant’s production. The remaining output will consist of pneumatic construction tires and forklift tires.

All the products made at the new plant will be destined for export, the company said.

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January 18, 2018

Saudi prince backing $1 billion tire plant in Saudi Arabia

Filed under: Tires — Tags: — Notch @ 9:43 am

National Tire Co., a company owned by a member of the Saudi royal family, is planning to build a $1 billion tire plant in Jubail, an industrial city in the eastern part of Saudi Arabia, according to Farid Dudin, general manager of Victoria Trading FZCO and head of the tire plant project.

NTC is an initiative of Fahad Bin Abdul-Rahman Bin Abdul-Aziz Al-Saud, a Saudi prince and former Saudi government official.

NTC said it had signed an agreement on the turnkey concept design with Finnish engineering consulting firm Black Donuts Engineering Inc., covering both the design of the factory itself and the design and development of the plant’s products.

The project will create one of the “biggest and most modern individual tire factories in the world,” the company stated. The plant, to be built on a 247-acre site in Jubail, will be engineered to produce 16 million passenger tires and 6 million radial truck/bus tires a year.

Production is expected to start by the second half of 2020.

Sourced article found here.

January 10, 2018

Apollo lays cornerstone for 5th Indian plant

Filed under: Tires — Tags: — Notch @ 10:17 am

Apollo Tyres Ltd. executives and local officials laid the ceremonial foundation stone on January 8 for a $280 million passenger tire plant planned for Chinnapanduru, located in Andhra Pradesh state.

Construction on the plant is expected to start within six months, Apollo said, and manufacturing is slated to start two years after that. The company plans to start with manufacturing passenger tires in this facility, and will later expand to other product as well.

The facility will be located on 200 acres of land that Apollo purchased from the Andhra Pradesh government, and will be about 100 miles west of Chennai, the coastal city where Apollo operates a combined passenger/truck tire plant that it opened in 2010.

The factory will be Apollo’s fifth in India and seventh overall.

Read the full press release here.

December 12, 2017

Sailun to increase investment in Vietnam tire plant

Filed under: Tires — Tags: — Notch @ 8:46 am

Sailun Jinyu Group Co. Ltd. plans to increase its investment in a truck and OTR tire plant under construction in Vietnam by more than $140 million, according to a company filing on the Shanghai Stock Exchange.

In late 2015, Sailun Jinyu announced plans to build the plant, rated at 1.2 million truck and bus tire and 30,000 OTR tires annually. The company projected the plant would take three years to build and commission. The investment at that time was $200 million.

The company filing did not provide a status update on the plant.

With this new investment, Sailun (Vietnam) Co. Ltd., subsidiary in Gò Dầu, Tây Ninh province, will have registered capital of $220 million.

The investment is being funded by the company’s private placement in November, which raised $195 million capital.

Sourced article found here.

November 11, 2017

GRI to open Sri Lanka ag tire plant in January

Filed under: Tires — Tags: — Notch @ 5:55 pm

Global Rubber Industries Pvt. Ltd. (GRI) is prepared to bring on stream in January the radial agricultural and construction tire plant it is building in Badalgama, north of Colombo. Located next to its existing solid industrial tire factory, GRI broke ground on the $40 million facility in late 2016.

The 1.25 million sq.-ft. plant will have a rated capacity of 25 metric tons a day, making it the largest factory in Sri Lanka dedicated to making specialty tires and the first to produce radial agriculture tires, according to GRI.

All the products made at the new plant will be destined for export, the company said.

Referenced article found here.

October 19, 2017

Hankook opens first U.S. manufacturing plant

Filed under: Tires — Tags: — Notch @ 12:24 pm

On October 17, Hankook Tire America Corp. held a grand opening ceremony for its first U.S. manufacturing facility. The $800 million plant in Clarksville, Tennessee is expected to bring 1,800 jobs, according to a company press release.

The plant, Hankook’s eighth facility worldwide, will produce 5.5 million units annually in its first phase. When the second phase of development is complete, Hankook Tire will double its production capacity to 11 million units annually.

“The new Tennessee plant signifies Hankook Tire’s growing business in the United States and our continued journey toward being a global leader in the tire industry,” said Seung Hwa Suh, Global CEO of Hankook Tire. “The investment in the U.S. is part of our ongoing commitment to innovation, state-of-the-art technology and service for our customers. This high-tech, sustainable facility will enable Hankook Tire to execute every phase of our business in the U.S., from R&D to production and sales.”

Read the full press release here.

Conti’s Mississippi plant construction on schedule

Filed under: Tires — Tags: — Notch @ 12:03 pm

Site clearing for Continental A.G.’s $1.4 billion commercial truck and bus tire plant near Clinton, Mississippi is nearly finished, keeping the project on schedule to begin tire production by year-end 2019.

The plant is projected to produce 750,000 truck and bus tires annually in the first phase, Conti said, starting with approximately 500 employees. Full projected employment of 2,500 won’t be reached until 2028.

Referenced article found here.

October 5, 2017

Giti ribbon cutting marks start of production at South Carolina plant

Filed under: Tires — Tags: — Notch @ 11:09 am

South Carolina Governor Henry McMaster and Walmert President and CEO, Greg Foran were present to help Giti Tire Group mark the start of production at the firm’s $560 million, 1.7 million-sq.-ft. Richburg tire plant and distribution center on October 4.

Originally announced in early 2015, the plant is scheduled to produce several hundred thousand Dextero-branded passenger tires for Wal-Mart in the remainder of 2017. Giti Tire hopes to ramp up production to several million passenger and light truck tires in 2018.

The plant’s first-phase nameplate capacity is 5 million tires.

A second-phase capacity expansion will be market-driven, the company said.

Read the full press release here.

October 2, 2017

Nokian breaks ground on Tennessee plant

Filed under: Tires — Tags: — Notch @ 11:29 am

Taking the next step toward its first tire plant in North America, Nokian broke ground on the $360 million manufacturing facility in Dayton, Tennessee on September 20. Nokian Tyres CEO Hille Korhonen and Tennessee Governor Bill Haslam joined the celebration.

With production launching in 2020, the new plant will service customers across the United States and Canada, concentrating on the production of North American-specific car and light truck all-season tires. The Tennessee location will increase production and warehouse capacity, allowing Nokian Tyres to meet the increasing demand throughout North America.

The new plant will be capable of producing four million tires annually with the room for expansion to meet future demand. The site will also house a distribution facility with a storage capacity of 600,000 tires.

Read the full press release here.

September 29, 2017

Sentury seeking equity partners for U.S. plant

Filed under: Tires — Tags: — Notch @ 12:11 pm

Sentury Tire North America has engaged Jones Lang Lasalle IP Inc. (JLL) of Atlanta to help it solicit offers from developers interested in becoming equity partners in the $530 million tire plant it’s planning to build near LaGrange, Ga.

Sentury is seeking a developer to construct the $200 million facility building which will then be subject to a 25-year sale-leaseback agreement.

The firm has secured a 400-acre plot in the LaGrange Callaway South Industrial Park for the plant, whose first-phase capacity is pegged at 12 million units a year with up to 1,000 employees.

“Sentury Tire is a major player in the tire business, and is looking for an equity partner in this state-of-the-art facility so it can rapidly continue to grow its North American market share,” said Todd Torok, JLL Managing Director. “We are expecting to see heavy interest from institutional investors both domestically and abroad.”

The new headquarters will help strengthen Sentury Tire’s North American presence, where it currently does 30 percent of its sales. The company has become one of the fastest growing tire manufacturers in the industry by selling its Sentury, Landsail, Groundspeed and Delinte brands.

Sourced article here.

JLL’s press release here.

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