Hangzhou Zhongce to start 10 million tires project

Beijing, China (July 26, 2012) - Hangzhou Zhongce Rubber has started the construction of tire production base with the total investment 8 billion RMB on June 15, 2012. It will cost 6-8 years to build the tire production base, and its annual sales will reach over 20 billion RMB. The first-stage project invested 2.4 billion RMB, will produce 10 million high-performance semi-steel radial tires and light truck tires. It is expected to finished by the end of next year, will be achieved annual sales of 4 billion RMB.