Cooper Tire & Rubber Company announced that it has agreed to form a joint venture with Sailun Vietnam Co., Ltd. to build a manufacturing plant with the capacity to produce more than 2 million truck and bus radial (TBR) tyres annually.
Subject to closing and government approvals, the facility will be located near Ho Chi Minh City, Vietnam, at the site of Sailun Vietnam’s existing operations, Cooper says in a Press release. Cooper will own 35 % of the new venture.
Total investment in facility and equipment in the joint venture is expected to be in the range of $220 to $240 million. Construction of the facility is expected to begin early next year with tyre production commencing in the first half of 2020.