Inoue makes tires in Vietnam

Inoue makes tires in Vietnam

HANOI (AFP): A Singaporean company has won a licence to set up a US$32 million plant to produce motorbike tires in Vietnam with Thai and local partners, a company official said yesterday.

Singapore's Asian Inoue Rubber Pte. Ltd. is to hold a 60 percent stake in the new venture, with Thailand's Inoue Rubber Public Co. Ltd. taking 10 percent, the official said. Both are subsidiaries of Japan's Inoue Rubber Co. Ltd.

Local partner Sao Vang (Gold Star) Rubber Company will hold the remaining 30 percent. Production is expected to start by the end of the year, the official said.

The new rubber plant is to be located in northern Vinh Phu province, some 25 kilometers (15 miles) from Hanoi, and will produce rubber tires and tubes for bicycles and motorbikes.