Vossen Manufacture (Thailand) commences automotive aluminum alloy wheel hub project
2019-02-21 17:53:19 [Print]
On February 20, 2019, Vossen Manufacture (Thailand) Co., Ltd. held the ground-breaking ceremony for its 3 million automotive aluminum alloy wheel hubs project at Thai-Chinese Rayong Industrial Zone in Thailand, according to media report.
Zhejiang Jinfei Kaida Wheel Co., Ltd. ("Jinfei Kaida") announced in 2018 that it will inject capital, together with its wholly-owned subsidiary Zhejiang Jinfei Motorcycle Wheel Co., Ltd. and Zhejiang Jintai auto parts manufacturing Co., Ltd., for the acquisition of Vossen Manufacture (Thailand) Co., Ltd. According to the Jinfei Kaida's announcement, the company plans to set up a production base in Thailand ("the project"), which will be implemented by Vossen Manufacture (Thailand) Co., Ltd. which owns the land of the future production base in Rayong Industrial Zone. Total investment of the project is RMB373.14 million (about USD53.66 million) including construction investment of RMB313.14 million and initial working capital of RMB60 million. The construction period of the project is 5 years which is divided into three phases. After the third phase is completed, the project will achieve its target annual production capacity of 3 million aluminum alloy wheel hubs.
Zhejiang Jinfei Kaida Wheel Co., Ltd. ("Jinfei Kaida") announced in 2018 that it will inject capital, together with its wholly-owned subsidiary Zhejiang Jinfei Motorcycle Wheel Co., Ltd. and Zhejiang Jintai auto parts manufacturing Co., Ltd., for the acquisition of Vossen Manufacture (Thailand) Co., Ltd. According to the Jinfei Kaida's announcement, the company plans to set up a production base in Thailand ("the project"), which will be implemented by Vossen Manufacture (Thailand) Co., Ltd. which owns the land of the future production base in Rayong Industrial Zone. Total investment of the project is RMB373.14 million (about USD53.66 million) including construction investment of RMB313.14 million and initial working capital of RMB60 million. The construction period of the project is 5 years which is divided into three phases. After the third phase is completed, the project will achieve its target annual production capacity of 3 million aluminum alloy wheel hubs.
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