August 26 -- Radial tire producer Sailun (601058) intends to invest over US$100 million to create a subsidiary in Vietnam, reports Yicai.com, citing a company filing. The subsidiary will produce tires and other rubber products.

The Vietnamese subsidiary will take advantage of the abundance rubber resources in the Southeast Asian country as well as its trade preferential policies from Western countries there.

Sailun’s other subsidiary, Qingdao Seagift International Logistics, announced that it will invest no more than 35 million yuan to acquire or construct a rubber processing plant in Thailand