Xingda proceeds with plans to build new tire cord factory despite recent lower profits

Xingda International Holdings Limited, a Chinese producer of steelcord for tires and other products, saw lower profits on increased sales for the six months of 2011. Construction of the Group’s No. 9 factory has continued according to schedule. Xingda also intends to build a new factory in China’s Shandong Province with a planned production capacity of 100,000 tons for radial tire cord, much of which will be used to manufacture truck tire cord. Construction of the Shandong factory is to be in parallel with the expansion of No. 9 factory. The total production capacity for radial tire cord of the Group will then exceed 600,000 tons by 2012, reaching 700,000 tons by 2013.

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