Tire manufacturer Sailun Tire has announced it will enter a joint venture and invest in the construction of a new factory in Mexico.
The decision to establish a factory in Mexico is a strategic move aimed at enhancing Sailun’s production capabilities and streamlining the supply chain to provide customers with better service and more efficient delivery.
This joint venture agreement will be between Sailun Singapore, a wholly owned company established in Singapore through a wholly owned subsidiary outside the company and TD INTERNATIONAL HOLDING, S.A.P.I.DE C.V in Mexico.
This new facility will have an annual production capacity of 6 million semi-steel radial tires, with a total project investment of US$240 million. The joint venture company is also considering the construction of an annual production capacity of 1.65 million all-steel radial tire project in the future.
“This new facility will be equipped with state-of-the-art technology and staffed with highly skilled professionals who are committed to maintaining the high standards of quality and innovation Sailun is known for,” said Peter Koszo, President North America. Sailun Tire Americas is based in Brampton, Ont.
“This expansion will not only allow us to meet the increasing demand for our products but also enable us to design, test and now build products for North America, in North America.”
This strategic expansion marks a significant milestone in the company’s commitment to innovation, efficiency, and global growth.
About Sailun Tires
Sailun Tire is a leading global tire manufacturer and top provider of quality products every driver can count on – ranked 12th largest tire company globally, selling over 70 million tires annually in over 135 countries worldwide. Sailun engineers, designs, manufactures and supports a full lineup of surprisingly affordable tires in a wide range of popular passenger and commercial vehicle tire applications.