Posted: May 14, 2008

From aftermarketNews Staff & Wire Reports

MACON, Ga. -- Kumho Tires held a groundbreaking ceremony on Monday for its sixth overseas manufacturing plant, located in Bibb County, near Macon, Ga.

Kumho Tires plans to invest a total of $165 million in this 5.7 million square foot plant, slated for completion 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., and is expected to provide more than 200 jobs when it opens.

Sae-chul Oh, president and CEO of Kumho Tires based in Seoul, Korea, said the plant will further strengthen Kumho’s global network and better position the company to achieve its goal of becoming one of the top five tire companies by 2015.

With the completion of this new plant, the company will have a total of nine plants strategically positioned around the world. The company has three plants in Korea, four in China and one in Vietnam, which began operations in March of 2008. Kumho Tires plans to establish an additional plant producing truck bus radial tires in Nanjing, China.

By 2008, Kumho Tires's production capacity outside of Korea will reach 33 million tires, exceeding domestic production by 32 million tires. Its new plants in Nanjing and Georgia will increase its total production capacity to 77 million tires by 2009, boosting total overseas production to 60 percent of Kumho's total capacity.