The first stones have been laid at Prinx Chengshan’s new plant in Thailand at the Eastern Seaboard Industrial Zone WHA EISE 3, Chonburi, Thailand.
This new factory, which is expected to be commissioned in mid-2020, will consolidate and expand the tire maker’s global production capacity, enhance its international competitiveness, and grow its brand.
On April 1, 2019, the WHA Group held a ceremony at the 10th Industrial Park, in celebration of the launch of the construction project for Prinx Chengshan’s new plant.
Featuring the latest design philosophies, the factory will also take advantage of artificial intelligence. In the initial stages, the company will invest nearly US$300m in the construction of infrastructure. Annual production will be approximately four million semi-steel radial tires and 800,000 all-steel radial tires.
“The establishment of our first overseas production base in Thailand is a major step in the expansion of Prinx Chengshan,” said chairman of the board of directors of Prinx Chengshan (Cayman) Holdings and chairman of the board of Prinx Chengshan (Shandong) Tire.
“Prinx Chengshan has a 43-year history of development and has always adhered to global development strategies. It was listed in Hong Kong in 2018 and is in line with international capital. The Thai production base is an important step toward the international development of Prinx Chengshan, and it is also the first tire production base of overseas investment.”
He continued, “Thailand is an important free trade country, producer of natural rubber, and the largest automobile production center in ASEAN. The development of automobiles and related industries is very fast and the transportation network is quite developed.
“Investment in Thailand is not only an important measure to integrate resources, but also an important step in forging Prinx Chengshan’s internationalized brand. It is also a favorable exploration to deepen the good-neighborly and friendly relations between China and Thailand, and promote the friendly economic exchanges between China and Thailand.”