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.
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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.
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