LYNDNEY, England (Oct. 29)—Watts Industrial Tyres has begun transferring most of its production to joint venture partners in China from its British base in Lydney. Subject to approval by Chinese authorities, the joint ventures—with Guizhou Tyre Inc. Ltd. of Guiyang, China—will supply resilient solid and pneumatic industrial tires from China by 2003, according to Doug Pearson, managing director of Watts Industrial Polymers division. Watts and Guizhou Tyre signed a memoranda of understanding in July to establish two Hong Kong-based companies, one majority owned by Watts covering sales, marketing and distribution of tires worldwide, excluding China, while the other will serve the Chinese market, with Guizhou Tyre as majority owner, Pearson said. "Our intention is to retain a limited manufacturing capability in the United Kingdom, but substantially we will source our manufactured products from the Far East," Pearson said. The company has also set up a joint venture in Brazil covering technology and distribution of industrial tires.
Watts Industrial moving production to Chinese JV partners
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