Kuantan, on the eastern coast of Malaysia, will be home to Maxtrek Tyre’s first car/truck tyre plant outside of China – the plant will be built in the Malaysia-China Kuantan Industrial Park and is slated to produce some 6 million car and light truck tyres and 500,000 truck/bus tyres annually.
Parent company Zhaoqing Junhong, which is known by the Antares and Maxtrek brands, said the project represents an investment upwards of “several hundreds of millions” of Malaysian ringgit (MYR100 million is about US$24 million).Zhaoqing Junhong has set up Maxtrek Tyre Manufacturing Malaysia, a subsidiary to oversee the project.
The upcoming plant will be the second Chinese tyre factory in Malaysia, after Fullrun Tyre’s production plant that opened in March 2019 in Port Klang. Its estimated annual capacities are 3 million and 500,000 passenger and truck/bus tyres respectively.
Zhaoqing Junhong has about 1,000 employees at its headquarters factory which began operations in 2006 in China’s Guangdong Province. The company has a registered capital of US$45 million.