SHANGHAI, China—Aeolus Tyre Co. Ltd. plans to invest about $85 million in an expansion project to add production capacity for giant tires and special engineering radial tires.
To be completed at Aeolus's flagship production facility in Jiaozuo, Henan, the project will add manufacturing capacity for 80,000 units per year, the Chinese tire maker said in a Nov. 11 filing with the Shanghai Stock Exchange.
The project, to be fully funded by Aeolus, is estimated to be completed in 18 months, according to the tire maker.
Aeolus said it expected the expansion to bring in a total investment rate of return of 37.4 percent once fully operational.
