By Denna Bowman
Bridgestone has announced that it plans to build a new plant in Vietnam on the back of growth in demand for tyres for passenger cars.
The Japanese tyres manufacturer revealed it will invest around £290 million in the project and that production at the new plant will begin in the first half of 2014.
Plans call for a production capacity of approximately 24,700 tyres per day after the production ramp-up is completed in the first half of 2016.
The new plant will serve as an export base for replacement tyres sold in the European, North American, and Japanese markets.
Currently, Bridgestone has increased its production capacities at the Nong Khae Plant in Thailand and the Karawang Plant in Indonesia to supply PSRs to those markets.
However, Bridgestone has determined that a new plant in Vietnam was necessary in order to respond to continuing growth in demand.
In selecting the site, Bridgestone made a comprehensive evaluation from a variety of perspectives, including infrastructure, location, workforce, and cost. As a result of this evaluation, the Dinh Vu Industrial Zone in Hai Phong City, Vietnam was chosen as the site of the new plant.