US to be home to five new tyre manufacturing facilities
Published On 06-Jun-2016 21:30:14
The growing tyre industry in the US is resulting in five new manufacturing plants that are all scheduled to start production either in 2015 or 2016.
Yokohama Tire Manufacturing Mississippi LLC's tyre plant in West Point should be the first one to come up. The inauguration of Yokohama's plant is scheduled for October 5, 2015, while its ground-breaking ceremony was held in September 2013.
The company has employed 260 workers for the West Point plant as of August 18, 2015. However, the expected employment number is likely to reach 300 by the end of this year at the 1 million square feet facility. The total workforce is expected to go up to 500 when the plant is fully operational. Yokohama will be investing $300 million in the first phase. The plant will have a capacity to produce 1 million tyres annually along with extra space for warehousing and operations.
Next up is Hankook Tire Co. Ltd.'s passenger and light truck tyre plant near Clarksville, Tennessee. The plant is expected to be operational by January 2016. This 470-acre facility will be employing around 1,200 people and will have an annual production capacity of 5.5 million tyres. Approximately $800 million have been allocated to build this plant.
Then comes the Giti Tire Group which did the ground-breaking ceremony of its plant at Richburg, South Carolina in February 2015. The company has scheduled the commencement of production in 2017. This will be a $560 million facility and will employ over 1,700 people in next 10 years.
The Trelleborg AB tyre plant is coming up in Spartanburg, South Carolina. The plant will produce agricultural tyres starting Q4 2015. The facility will employ 150 people when it becomes fully operational by 2018.
Lastly, Kumho Tire Co. Inc.'s consumer tyre facility is coming up in Macon, Georgia. This project is due since a long time as the construction was stopped six years ago due to global economic slowdown. However, the work began in August 2014. The plant is being built on a 150-acre land in Sofkee Industrial Park. It will employ 450 people when is goes operational.