SEOUL, South Korea (Sept. 16)—Tire cord maker Hyosung Corp. plans to invest $110 million to establish a 33,600 metric ton-per-year steel cord plant in Qingdao, China. The tire reinforcement operation will be managed by a newly formed company called Hyosung Steel Cord Qingdao, according to information on the Korean group's Web site. Hyosung plans to start out with an initial investment of $50 million, aiming to achieve a capacity of 16,800 tons by next year. The company has yet to decide a schedule for the remainder of the project.
Hyosung to build steel cord plant in China
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