Mori Kirin (002984.SZ) plans to invest in radial tire projects for high-performance cars and light trucks in Turkey

According to Zhitong Finance App, Mori Kirin (002984.SZ) announced that the company plans to jointly invest with TATKO Group, one of Turkey's leading independent multi-brand tire distribution and service companies, to build Turkey's 7 million high-performance car and light truck radial tire projects. The total planned investment of the project is 273 million US dollars, of which the company (including wholly-owned subsidiaries) accounts for 90.1% of the investment, and TATKO Group accounts for 9.9% of the investment.

According to reports, the construction period of the project is 18 months. After completion, the normal operating year is expected to achieve operating income of 205 million US dollars, net profit of 42.11 million US dollars, and a net profit margin of 20.58%. The project relies on the strategic location advantage of Turkey's strategic connection with the “Belt and Road” Middle Corridor to create a tire manufacturing fulcrum covering the European and Central Asian markets; at the same time, it also relies on Turkey's local automobile industry base to serve the vehicle support needs of nearby regions. After completion, the project will form a global synergy with the company's overseas production bases in Thailand and Morocco, further improve the company's “833Plus” global strategic layout, and promote practical industrial cooperation between China and Turkey in the fields of manufacturing, job creation and third-party markets.