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Wanli puts U.S. plant plans on hold

China's Guangzhou Vanlead Group Co. Ltd. has put on hold indefinitely plans it announced a year ago to invest $1 billion in a tire plant in South Carolina.
Guangzhou Vanlead, a China state-owned entity that controls Wanli Tire Group, had proposed building a tire plant in Orangeburg County, S.C., capable of producing 6 million consumer tires annually in the eight-year project's first phase.
The Guangzhou-based entity disclosed its proposed U.S. investment in late April 2017 Conference held in Guangzhou.At the conference, Vanlead Group Chairman Fu Shoujie disclosed that his enterprise was prepared to invest $1 billion in two phases over eight years to build a radial tire plant in Orangeburg County, S.C.
Among the company's core subsidiaries are South China Tire & Rubber Co. and Guangzhou Rubber Enterprise Group Co. Ltd., which together comprise Wanli Tire Group

  • 8/14/2018
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