Macon, Georgia – Kumho Tires has held a groundbreaking ceremony for its sixth overseas manufacturing plant, located in Bibb County, near Macon, Georgia. The company plans to invest a total of US$165 million into the plant, which is scheduled to be completed by the end of 2009.
The plant will have an initial capacity of 2.1 million tires for original and replacement equipment markets in the U.S. It is expected to provide more than 200 jobs when it opens.
“Establishing a production facility in the world’s biggest tire market will help Kumho respond faster to the needs of customers in the region, while also reinforcing our cost and price competitiveness,” said Sae-chul Oh, President and CEO of Kumho Tires, based in Seoul, South Korea. “We can now provide our efficient, high-quality tires to U.S. consumers and an ever-growing number of major carmakers faster than ever. This plant will further strengthen Kumho Tires’ global network, better positioning us to achieve our goal of becoming one of the world’s top five tire companies by 2015.”
The company currently has three plants in Korea, four in China and one in Vietnam, and plans to establish an additional Chinese plant for truck and bus radial tires. This year, its expected production capacity outside of Korea will reach 33 million units, exceeding its domestic production by 32 million tires.