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March 07, 2018 01:00 AM

Doublestar to invest $129 million in plant relocation, upgrade

Jane Ho
European Rubber Journal
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    SHIYAN, China—Qingdao Doublestar Co. has plans to relocate its subsidiary, Doublestar Dongfeng Tire, within Shiyan and upgrade it into a smart factory.

    The new plant, with planned annual capacity of 1.5 million unit truck and bus tires and 5 million unit passenger car tires, will be relocated to Zhangwan District Industrial Park in the same city. The new site has 3.23 million square feet.

    Doublestar is planning a $237 million investment into the new plant, and expects it to generate $22.3 million annual profit on $475.2 million revenue when on stream, according to a statment released in December. Construction of the project will take 18 months.

    The firm also said it plans to set up a smart plant for scrap rubber recycling at the new site, according to the Shiyan government website.

    In February, Doublestar said that the old facilities have a total net worth of $28.5 million.

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