SAILUN Group invested in the construction of Mexico half steel tire project

On December 16, SAILUN Group Co., Ltd. issued an investment announcement.

The company, through its Singapore subsidiary, has signed a joint venture Agreement with TD of Mexico.

The two parties established SL AND TD(MEXICO) tire manufacturing company, registered in Mexico.

Among them, SAILUN Singapore contributed US $61.2 million, accounting for 51% of the shares;Mexico's TD contributed $58.8 million, or 49%.

The joint venture company will be the main construction body and invest in the construction of 6 million semi-steel radial tires with an annual output.

The construction site is Leon City, Guanajuato State, Mexico.The total investment of the project is 240 million US dollars (about 1.7 billion yuan).

Among them, the construction investment is about 193 million US dollars, and the working capital is 45.09 million US dollars.The project construction period is expected to be 12 months.

It is reported that the joint venture company will also consider the construction of all-steel radial tire project in the future, with an annual capacity of 1.65 million units.

The specific content of the project has yet to be discussed, and the implementation content and timing are uncertain.

Article source:www.tireworld.com.cn