YHI invests in M'sian wheel plant
TYRE maker YHI International Ltd said it is pumping $7.8 million into a Malaysian wheel-making plant.
The factory will serve the South-east Asia markets, which YHI sees as an increasingly important automotive hub following the Asean free trade agreement. The plant in Negri Sembilian will initially produce about 180,000 pieces of wheels a year and is slated to start in the second half of 2005. YHI already has manufacturing facilities in China and Taiwan.
'We have chosen Malaysia for our manufacturing facility as Malaysia's automotive sector, currently ranked among the top 20 in the world, is very vibrant,' said YHI's managing director Richard Tay.
'The potential for further growth is also very promising. We want to position ourselves well here and gear up for more opportunities in the automotive sector over the next few years, as we will benefit from the significant reduction in Malaysia's tariff barriers as part of the Asean Free-Trade Area Agreement (Afta).'
In March, YHI formed a joint venture in China to provide metal finishing services for aluminium wheels and accessories for the Chinese domestic market.
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