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
Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].