Lizhong Wheel Group, the China-based manufacturer of aluminum alloy wheels, says wholly-owned subsidiary, Baoding Lizhong Wheel Manufacturing Co. has established New Thai Wheel Manufacturing Co. to develop, manufacture and sell aluminium alloy wheels and its related parts from Thailand.

Baoding Lizhong has acquired a piece of land in the Thailand-China Rayong Industrial Park of 57,200 square metres and will begin construction of a new THB500.0 million ($21.7 million) wheel manufacturing plant on the site. Construction will commence in the last quarter of 2010 and is expected to be completed by the last quarter of 2011. Once completed, the plant will boast an annual production capacity of 1 million wheels per annum. This will boost the group’s total annual production capacity to 9.7 million wheels, across its 5 production bases.

In accordance with Thailand regulations, which require that companies have at least three shareholders who ae individuals. Baoding Lizhong owns 99.97% shares of the shareholdings in New Thai Wheel. The remaining 0.03% comprising 150,000 shares are held by Messrs Zang Lizhong, Zang Liguo and Zang Yongxing equally (0.01% comprising 50,000 shares each).