Double Coin starts production at Chinese subsidiary
Double Coin’s 51 percent owned subsidiary Double Coin (Xinjiang) Kunlun Tire earlier in April started its radial TBR expansion project with 1.2 million unit annual capacity.
The company plans to pump about $170 million into the expansion project, located at its current site in Midong Industrial Park, Urumpqi, Xinjiang.
New facilities are expected to begin operation by the end of 2018 and bring in about $13.6 million annual net profit on about $243.3 million revenue.
With 1 million unit existing annual capacity for radial TBR, the company will become the largest radial TBR maker in Northwest China, said its website.
The 2,300-employee company also has 1.2 million unit annual capacity for bias engineering and agricultural tires, and sells in Central Asia, Pakistan, India, Vietnam and Thailand.
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