Bridgestone Corporation has announced that its subsidiary in Vietnam, Bridgestone Tire Manufacturing Vietnam Limited Liability Company(BTMV) has decided to increase production capacity at the company's new passenger car radial tyres (PSR) plant currently under construction in Hai Phong City, Vietnam.
The production increase is to meet the continually growing demand for tyres globally. The total investment in the plant will be approximately ¥41.6 billion. Production capacity at the new facility is estimated to increase by approximately 24,000 tyres per day by the second half of 2017, and once expansion is completed, the plant's total capacity will be approximately 49,000 tyres per day.
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The plant is scheduled to begin operation in March of 2014, and will serve as an export base for PSR general-purpose tyres sold in Europe, North America, and Japan, principally.
The Bridgestone Group says it is continuously optimising its production and supply systems in order to respond more rapidly to changing global market trends.
In addition, Bridgestone will continue to support the economic development in Hai Phong City and Vietnam through its operation and presence in the country, the company noted.
< Overview of BTMV>
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By GlobalData| 1. Company name | : Bridgestone Tire Manufacturing Vietnam Limited Liability Company |
| 2. Location | : Dinh Vu Industrial Zone, Hai Phong City, Vietnam |
| 3. Representative | : Susumu Yazaki |
| 4. Business Activities | : Manufacturing and sales of PSR |
| 5. Capital | : US$ 307.8 million (approximately ¥ 23.7 billion) |
| 6. Employees | : Approximately 1,900 employees (total planned for 1st half of 2016) * Approximately 3,800 employees (total planned for 2nd half of 2017) |
| 7. Ownership | : Bridgestone Corporation 100% |
<Overview of the New Plant>
| 1. Production item | : PSR |
| 2. Site area | : Approximately 1.02 million square meters |
| 3. Start of operations | : Planned for March 2014 |
| 4. Production capacity | : Approximately 25,000 tyres per day (planned for 1st half of 2016) |
<Overview of Production Capacity Increase>
| 1. Start of operations increased production capacity | : Planned for 1st half of 2016 |
| 2. Completion of production capacity increase | : Planned for 2nd half of 2017 |
| 3. Production capacity to be increased | : Approximately 24,000 tyres a day (planned for 2nd half of 2017) |
