Prinx Chengshan Investing USD 25 Million In New Tire Factory In Thailand
Chinese company, Prinx Chengshan, announced in January 2018 that it will invest 19 million GBP in a new tire factory in Thailand. The factory will be located across three sites located at Tambon Nong Suea Chang, Amphur Nong Yai, and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province..
The tire maker believes that the Thai site offers low costs for raw materials and transportation, while also avoiding international trade barriers. Other benefits include local preferential policies on areas such as taxes and human resources.
The Chinese company has also opted to have a plant located overseas in order to create a more global image for its products, which it believes will improve the positioning and enhance the competitiveness of its products.
(Sources: Rubber & Plastics News; Morjan Media)