has announced plans to invest Yuan612 million (€82 million) in an expansion project to add production capacity for giant tires and special engineering radial tires.
To be completed at Aeolus’s flagship production facility in Jiaozuo, Henan, the project will add manufacturing capacity for 80,000 units per year of the said tires. This was announcedby the Chinese tire maker in an 11 Nov filing with the Shanghai Stock Exchange.
The project, to be fully funded by Aeolus, is estimated to be completed in 18 months, said the announcement.
Aeolus said it expected the expansion to bring in a total investment rate of return of 37.4% once fully operational.
from european rubber journal
More information on Aeolus Tire:
HISTORY:
In 1965, Aeolus was founded in the city of Jiaozuo (Henan Province), as a factory specialized in manufacturing OTR tyres. Since then, the Company has progressively established itself at the top of the tyre industry, in designing, manufacturing, and distributing excellent tyres for commercial vehicles and earth-moving machinery worldwide.
Henan Tyre becomes Aeolus Tyre and is listed on the Shanghai Stock Exchange.
Aeolus Tyre expands its reach around the globe into more than 150 countries, that represent more than 90% of the total TBR/OTR market potential.
Aeolus expands its capacity by acquiring a factory located in Taiyuan (Shanxi province).
Aeolus is among the “China’s 500 Most Valuable Brands” for 15 consecutive years, with a brand value of more than 3 Billion U$, estimated by the World Brand Lab.
