BIN DUONG PROVINCE, Vietnam (Feb. 22, 2012)—Vietnam's J.S.C. Southern Rubber Industry (Casumina) broke ground recently on a $160 million factory in Binh Duong Province for all-steel radial tires.
The company said the 732,000-sq.-ft. plant should come on stream in 2013 with an initial annual capacity of 350,000 units, with plans for 600,000 units by 2015 and full capacity of 1 million units by 2017.
Casumina Chairman and CEO Nguyen Ngoc Tuan said the plant represents annualized revenue of about $250 million and will create 1,200 jobs.