YHI rolls out plans for China wheels business
SINGAPORE company YHI International, which distributes, tyres and other automotive products, yesterday announced two moves to make further inroads into China's booming car market.
To meet the rising demand for chrome wheels in China and globally, subsidiary YHI Manufacturing is establishing a chroming facility in Wuxi as part of a joint venture with Cromtech Plating, a Taiwan-incorporated firm.
A joint-venture company with US$1 million (S$1.7 million) of registered capital, Eastbourne Metal Coatings, will be set up to provide metal finishing services for aluminium wheels and accessories.
YHI Manufacturing will own 40 per cent of this facility which will be up and running in the next few months.
YHI also said yesterday that it plans to found a subsidiary, YHI Advanti Manufacturing (Shanghai), with a registered capital of US$1.5 million. It will make alloy wheels, of which YHI is an original design manufacturer.
The production lines will be running before the second half of this year under YHI's proprietary brand, Advanti Racing. The wheels are for China's domestic market.
Said YHI managing director Richard Tay: 'This is a strategic move to build our brand name in China... We believe this will be an important strategic step for the group to strengthen its leadership position.' -- Rachel Lin
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