Kumho Tire Signs Technology Export Contract with Saudi Blatco

Kumho Tire announced on the 4th that it has signed a technology export contract with Saudi Arabia's 'Blatco'.

Through this contract, Kumho Tire will support Blatco with the technology necessary for the production of passenger tires sold in Saudi Arabia and the Middle East region for 20 years.

Blatco is a manufacturing company receiving strong support under the Saudi Arabian government's Vision 2030 policy, aiming to complete and start production at a tire factory of approximately 85,000 pyeong in the western industrial complex of Saudi Arabia by 2027.

Blatco plans to expand its mobility business through tire production and sales in the Middle Eastern market, including Saudi Arabia.

CEO Jeong Il-taek stated, "Saudi Arabia is the largest automotive tire market in the Middle East, continuing solid growth, and is strengthening investment in manufacturing to prepare for the future," adding, "Through this contract, we will establish a foundation for production and sales growth in the Middle Eastern market."

Adeel Al Masoud, CEO of Blatco, said, "We will strive to develop and produce products with secured quality and technology through a partnership with Kumho Tire, known as a technology powerhouse."