Bridgestone has announced that it will build a third tyre factory in China at a cost of $99 million. The radial tyre plant will be built in the city of Wuxi in Jiangsu Province.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Bridgestone said that production is planned to start in September 2004 with production capacity of 8,000 tyres a day.
The plants output will be exported as well as allocated for the domestic market. Bridgestone already operates a car tyre plant in the port of Tianjin, as well as a truck and bus tyre plant in Shenyang.
“Demand for radial tyres for passenger cars is burgeoning in China as vehicle ownership surges,” Bridgestone said in a statement.
Bridgestone recently reported strong 2002 financial results on the back of brisk reports and a weak yen. Net profit was up by 161 percent last year, confirming a corporate comeback from the Firestone recall debacle in the US.
