Ohio-headquartered Cooper Tire & Rubber Company has agreed to form a joint venture (jv) with Sailun Vietnam Co, Ltd, a Tây Ninh-based manufacturer of off-highway tires and all-steel belted tyres, to build a manufacturing plant with the capacity to produce more than 2 million truck and bus radial (TBR) tyres annually.
Subject to closing and government approvals, the facility will be located near Ho Chi Minh City, Vietnam, at the site of Sailun Vietnam’s existing operations. Cooper will own 35% of the new venture. Total investment in facility and equipment in the jv is expected to be in the range of US$220 to US$240 million. Construction of the facility is expected to begin early next year with tire production commencing in the first half of 2020.