tire factory – Tires & Parts News https://tiresandparts.net Your News Source for Everything Automotive Thu, 04 Mar 2021 11:49:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.0.11 Ceat Confirms Planned JV for New Factory in Bangladesh https://tiresandparts.net/news/tires/ceat-confirms-planned-jv-new-factory-bangladesh/ https://tiresandparts.net/news/tires/ceat-confirms-planned-jv-new-factory-bangladesh/#respond Sun, 19 Feb 2017 13:38:06 +0000 https://tiresandparts.net/?p=19817 Indian tire manufacturer Ceat Tyres has confirmed that the company is planning to set up a tire factory in Bangladesh, according to reports from BDNews24. The company’s parent company, RPG Group, which is based in Mumbai has signed a joint venture agreement with the Bangladeshi group AK Khan to establish the plant with an initial […]

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Indian tire manufacturer Ceat Tyres has confirmed that the company is planning to set up a tire factory in Bangladesh, according to reports from BDNews24. The company’s parent company, RPG Group, which is based in Mumbai has signed a joint venture agreement with the Bangladeshi group AK Khan to establish the plant with an initial capital of USD 67 million. Ceat will have a 70 per cent stake in the proposed joint venture. While Ceat will contribute technical expertise and management of the joint venture, AK Khan will contribute knowledge of the local market.

CEAT’s managing director Jyotibrata Banerjee said the company is hoping to become a leading player in the Bangladeshi tire market by setting up the proposed tire factory in Bhaluka, Mymensingh. By setting up the factory in Bangladesh, Ceat is hoping to manufacture and sell tires at prices that are 25 to 30 per cent lower than that of tires imported from India.

The tires made at the factory, once it is operational, will not be sold only in Bangladesh, but about 30-35 per cent of the factory’s production will also be exported to the countries bordering India.

The new factory will specialize in the production of bias tires for trucks, light and small commercial vehicles as well as tires for two-wheelers in the first phase of its operation. It will manufacture tires for automobiles in the second phase of its operation once its capacity has been ramped up.

Ceat had announced back in 2013 that it was planning to build a plant in Bangladesh but there was no further talk of the project. The project that has just been announced also is stated to require the same outlay of USD 67 million. This gives rise to the possibility that it is the previously announced project in 2013, that is now being revived with the same proposed investment amount.

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Continental Breaks Ground for New Factory in Mississippi https://tiresandparts.net/news/tires/continental-breaks-ground-new-factory-mississippi/ https://tiresandparts.net/news/tires/continental-breaks-ground-new-factory-mississippi/#respond Tue, 08 Nov 2016 13:24:36 +0000 http://tiresandparts.net/?p=18447 Continental held a formal groundbreaking ceremony to mark the establishment of its new factory in Mississippi. The gala event in Clinton, Mississippi was attended by many eminent dignitaries including federal, state and local officials. The German tire manufacturer expects to complete construction of the new factory in which it plans to invest USD 1.4 million […]

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Continental held a formal groundbreaking ceremony to mark the establishment of its new factory in Mississippi. The gala event in Clinton, Mississippi was attended by many eminent dignitaries including federal, state and local officials. The German tire manufacturer expects to complete construction of the new factory in which it plans to invest USD 1.4 million by 2019.

When the factory which will be built on a site covering 400 hectares attains its full capacity in the next decade, it is expected that it will employ 2500 people Continental intends to invest approximately US$1.4 million in the greenfield plant near Clinton, Mississippi, and expects to employ 2,500 people.

Speaking about the new factory, Nikolai Setzer, member of Continental’s Executive Board who heads the company’s global tire business said that the new Mississippi plant will play a critical role in achieving its growth strategy, which is known as Vision 2025. This is the first such plant, globally, that is being built in over ten years. Speaking at the function, Phil Bryant, governor of Mississippi said that the groundbreaking of the plant marked a significant milestone and went on to congratulate everyone involved in the project.

Paul Williams, executive vice-president, commercial vehicle tire, the Americas said that the plant marked a significant step in highlighting the company’s commitment to expand its commercial vehicle tire business in North America. He went on to express the company’s gratitude to the state of Mississippi, Hinds County and the City of Clinton, the Mississippi Development Authority and to Governor Bryant.

Continental has made its presence felt in the commercial vehicle tire market in North America in the past five years, with growth exceeding the market growth rate and customer demand for both new truck and bus tires as well as retreads growing beyond the company’s existing capacity.

In addition to investment in the new plant in Mississippi, Continental has spent almost USD 2.5 billion in the past 10 years expanding its presence in manufacturing, technology, facilities and product development in order to grow its tire business in the Americas. This investment was used for expanding the company’ splant in in Mt. Vernon, Illinois, and for setting up a new factory in Sumter, South Carolina.

Continental’s Tire division currently operates 24 production and development locations around the world, and employs more than 47,000 people.

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