PRINX CHENGSHAN BREAKS GROUND FOR NEW THAILAND PLANT

Prinx Chengshan has held a groundbreaking ceremony for the world-class plant at Eastern Seaboard Industrial Zone WHA EISE 3 (Chonburi) in Thailand. The new facility is expected to be commissioned in mid-2020. By then, it will further consolidate and expand Prinx Chengshan’s global production capacity, enhance its international competitiveness, enhance its product brand image and influence, to meet the needs of overseas customers, said the company.

Prinx Chengshan was founded in 1976 and successfully listed on the main board of the Hong Kong Stock Exchange in October 2018.The new plant will adopt the tyre industry’s leading design philosophy and be designed with AI manufacturing standards. The initial stage of the plant is expected to invest nearly $300 million for the construction of infrastructure and the annual production line of four million semi-steel radial tyres (PCR) and 800,000 all-steel radial tyre (TBR).

“The establishment of the first overseas production base in WHA ESIE 3 in Thailand is a major step for the expansion of Prinx Chengshan,” said Chairman of the Board of Directors of Prinx Chengshan (Cayman) Holdings Co., Ltd. and Chairman of the Board of Prinx Chengshan (Shandong) Tire Co., Ltd. “Prinx Chengshan has a 43-year history of development and has always adhered to the global development strategy. It was listed in Hong Kong in 2018 and is in line with international capital. The Thai production base is an important step towards the international development for Prinx Chengshan, and it is also the first tire production base of overseas investment.”

David R. Nardone, Executive Director of WHA Industrial Development PLC, Wang Yifei, Chairman of
China State Construction Engineering (Thailand), Liu Qing, Executive Director of China State Construction International Engineering, and Li Hong, Assistant General Manager of China Chemical Industry Guilin Engineering, Chirada Bumrungvej, deputy manager of the Transmission Systems Engineering Service Department of the Thai Power Authority (Bangkok), and Wu Lin, Vice President of the Bank of China (Thailand) have attended the ceremony. On April 1, 2019, the WHA Group of Thailand will hold the launching ceremony for the 10th Industrial Park at the same time, in order to celebrate the launch of the new plant construction project of Prinx Chengshan.

WHA Corporation PLC (WHA Group) is Thailand’s leader in fully-integrated logistics and industrial facilities solutions.

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