|The following report is in the press that the Chinese tire manufacturer Qingdao Sentury Tire Co has selected LaGrange Georgia for a $530 million car and light truck tire plant targeted for start up in 2018. Read the press release here…|
AKC Note: It had been reported last month that Sentury was considering locations in Georgia and Tennessee and according to the report they have decided on Georgia. This provides more automotive based investment that will need additional volumes of polyester tire fabric and probably nylon 66 cap ply. There have been a number of announcements of additional tire capacity in NAFTA recently, with Michelin, Pirelli and Goodyear all making investments in Mexico and Sumitomo expanding capacity in New York. The Singaporean/Chinese company Giti Tire broke ground in February 2015 on a $560 million investment in South Carolina with a target production of 5 million tires annually. Demand for polyester and nylon industrial filament should increase as a result of all the investment.