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Cooper Tire and Sailun form joint venture for Vietnam TBR plant

Cooper Tire & Rubber Company is forming a joint venture with Sailun Vietnam Co, Ltd to build a two million capacity truck and bus radial manufacturing plant. Pending closing and government approvals, the facility will be located near Ho Chi Minh City, Vietnam, at the site of Sailun Vietnam’s existing operations, which early in 2018 signed an offtake agreement to produce Roadmaster, Dean and Starfire brand tires for Cooper.

Sailun Vietnam operates two factories in Vietnam, including the Chinese manufacturer’s first outside its domestic market, located on Phuoc Dong Industrial Park, Tay Ninh Province, and manufactures car, truck, and OTR tires, with facilities for technical research for future product development.

Cooper will own 35 per cent of the new venture. Total investment in facility and equipment in the joint venture is expected to be between $220 and $240 million. Cooper said it would be funded through capital contributions and debt, with Cooper being responsible for its pro rata share.

Construction of the facility is expected to begin in early 2019, with production beginning in the first half of 2020.

Referenced article found here.

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