General Science Technology plans to set up a subsidiary in the U.S., pending regulatory approval.
Named General Rubber (North America) and based in Georgia, it will be a fully-owned subsidiary of China-based General Science with $5 million registered capital. Its business covers the research and sales of tire and rubber materials and products.
This will be General Science's first ever overseas subsidiary, the company said.
General Science also proposed in August a new truck and bus tire project with 1.2 million unit annual capacity located at the firm's headquarters in Wuxi. The project has up to $177 million earmarked for investment and an expected construction period of two and three years.
When online, the project is expected to generate about $267 million in sales and $13 million in profit, the company said in its filing.
