Sentury Tire Plans to Invest 273 Million Dollars in a Tire Factory in Turkey

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Sentury Tire announced that the company plans to jointly invest with TATKO Group in a project in Turkey to produce 7 million high-performance passenger car and light truck radial tires per year, with a total investment of 273 million dollars and the company holding a 90.1 percent stake. The construction period is 18 months, and after completion, it is expected to generate annual revenue of 205 million dollars and net profit of 42.11 million dollars. The investment still requires shareholder approval.

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Qingdao Sentury Tire Co Ltd
002984
▲ PositiveCapitalrelevance

Sentury Tire plans a $273M joint investment in a Turkish tire factory, a major capex/expansion project expected to add $205M annual revenue and $42.11M net profit.

Off-coverage companies 1

TATKO Groupi
Private± Mixedrelevance