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Sentury seeking equity partners for U.S. plant

Sentury Tire North America has engaged Jones Lang Lasalle IP Inc. (JLL) of Atlanta to help it solicit offers from developers interested in becoming equity partners in the $530 million tire plant it’s planning to build near LaGrange, Ga.

Sentury is seeking a developer to construct the $200 million facility building which will then be subject to a 25-year sale-leaseback agreement.

The firm has secured a 400-acre plot in the LaGrange Callaway South Industrial Park for the plant, whose first-phase capacity is pegged at 12 million units a year with up to 1,000 employees.

“Sentury Tire is a major player in the tire business, and is looking for an equity partner in this state-of-the-art facility so it can rapidly continue to grow its North American market share,” said Todd Torok, JLL Managing Director. “We are expecting to see heavy interest from institutional investors both domestically and abroad.” The new headquarters will help strengthen Sentury Tire’s North American presence, where it currently does 30 percent of its sales. The company has become one of the fastest growing tire manufacturers in the industry by selling its Sentury, Landsail, Groundspeed and Delinte brands.

Sourced article here.

JLL’s press release here.

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