QINGDAO, China—Jiangxing Taida Mechanical will break ground on a new plant with a 1,000-unit annual capacity for segmented molds, pending regulatory approval.
The machinery maker licenses technology from overseas companies and will be manufacturing high-precision segmented molds used for passenger car tires, according to the its environmental impact report.
The project covers nearly 100,000 square feet with a 55,700-sq.-ft. total floor area. The $15.4 million project is scheduled to be completed in two years.
Based, in Qingdao, Jiangxing Taida was established 2014 with $150,000 registered capital. The new plant is expected to employ 100 when in operation.