Linglong unveils'7+5'growth plan,€800m tire factory

摘要

CHINA: Linglong Tire has declared plans to move away from its previously announced'6+6'expansion strategy to increase its focus on domestic growth.In a 10 June securities statement,Linglong said its board of directors had agreed to change the group's business strategy to a'7+5'model-with seven plants in China and five globally.Linglong cited an'unstable and uncertain'economic situation due to the repeated surge of Covid overseas as well as China's focus on'accelerating domestic construction',as key reasons behind the move.