South Korean Kolon takes the wheel in Việt Nam

The initiative supports Kolon's strategy to strengthen its global tire cord market presence and address increasing demand in Southeast Asia.

The factory of Kolon Industries. — Photo koreaherald.com

HÀ NỘI — South Korean chemical and textile manufacturing company Kolon Industries announced Tuesday its plans to invest 30 billion won (US$20.5 million) in expanding the company's tire cord production in Việt Nam, The Korea Herald reported. 

The investment will boost production capacity to 57,000 metric tonnes annually by 2027, with the company repurposing idle equipment from its shuttered Nanjing plant in China to cut costs.

The initiative supports Kolon's strategy to strengthen its global tire cord market presence and address increasing demand in Southeast Asia, a key hub for tire manufacturing. — VNS

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