A 5 billion baht ($162 million) joint venture between Thai Hua Rubber and China's Hangzhou Zhongce Rubber has been postponed over concerns about the uncertain outlook in Europe, RubberWorld.com reported. Last year, Thai Hua announced the joint venture in tire production in Rayong withHangzhou Zhongce Rubber. It was to be the first overseas investment by the Chinese partner. The investment will be postponed until next year, possibly the first half, in order to see the European effect, as 80 percent of the production would be exported to Europe and the U.S.
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