Singapore-based tire manufacturer Giti Tire has announced plans to build a new tire manufacturing plant in Chester County, South Carolina, US with an investment of $560m
The new facility is expected to address the growing demand for tires across North American markets as well as generate 1,700 new jobs over the next 10 years.
Representing the Company's first greenfield project in North America, the new plant will produce passenger and light truck tires for the replacement and original equipment markets.
Giti Tire executive chairman Enki Tan said the significant investment represents the company's strong commitment to customers in North America.
"Existing business and strong demand for Giti Tire's passenger and light truck tires in North America has made this significant investment in South Carolina possible," Tan added.
The new facility is part of Giti Tire's worldwide growth strategy.
According to the company, the plant will be built with a focus on maintaining a healthy balance with the environment and following Giti Tire's green initiatives.
Giti Tire managing director Lei Huai Chin said: "Chester County is an excellent location for Giti Tire, offering an extensive and efficient infrastructure network including interstate highways, rail, close proximity to airports and a major metropolitan area to support the company's needs and growth for many years to come."
Following the completion, the new facility will combine manufacturing plant and distribution center with total building area of about 1,800,000ft2.
First phase of production capacity of the new plant is expected to be five million tires per year, while Giti Tire plans to further increase production capacity in accordance with the response to future market demand and conditions.
