According to reliable information, Prinx Chengshan (Cayman) Holdings Co., Ltd. has recently reached an agreement with a developer of an industrial park in Thailand, which will purchase 433,600 to 480,000 square meters of land from the latter. In the future, Prinx Chengshan will build a tire manufacturing plant in Chonburi, Thailand, and its overseas production base will be officially settled in Thailand.
Prinx Chengshan told China Rubber that due to the slow progress of the company’s original overseas factory, the Malaysian production base project, while Thailand regards the development of tire manufacturing as a national industrial policy, and there are preferential policies in terms of human resources, taxation and land for tire plants, Prinx Chengshan finally decided to build their overseas production bases in Thailand, while Malaysian projects are no longer promoted.
According to the relevant person in charge, the construction of a production base in Thailand has many benefits for Prinx Chengshan. It can obtain lower-priced raw materials from the surrounding areas, and the transportation cost of delivering products to customers from the Thailand production base is much lower than from the domestic factory in China, and most importantly, Prinx Chengshan will also effectively evade international trade barriers and enhance the international comprehensive competitiveness of its products.
China Rubber learned that this purchase agreement was signed by its subsidiary Prinx Thailand and the seller WHA Eastern, the purchase price of the land is about 170.6 million Chinese Yuan, according to the plan, Prinx Thailand will obtain the license from the Thai Industrial Zone Authority within 60 days after the signing of the agreement, and complete other related procedures step by step.
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