SEOUL, South Korea (Nov. 11, 2008) — Kumho Tire Co. Ltd. has postponed further construction of its first U.S. tire plant because of the lagging global economy and faltering U.S. auto industry.
The company broke ground on the $165 million project at a site in Bibb County, Ga., on May 12. Instead of completing the 5.7 million sq.-ft. tire plant by mid-2009, the firm will set a new, undetermined date for the opening, according to the company.
A spokeswoman in South Korea said the firm still is committed to the project.
The facility, to be operated by the South Korean tire maker's U.S. unit, Kumho Tire USA Inc., was expected to have an initial production capacity of 2.1 million tires. Local media reports said the company anticipated employing about 450.