Thai Bridgestone Co. has finally won approval for the tax incentives it requested in 2002, and will now accelerate its Baht 4000 million (â‚¬80 million) expansion project in the country. The Thai Board of Investment said it will exempt the company from corporate taxes for five years and remove taxation on imported production machinery.
Bridgestone intends to increase capacity at its Rangsit plant by 10 000 units per day to 28 000 units per day. A company spokesman was reported as saying the new capacity wil be on stream by the end of 2004. The plant makes car, truck and light truck tyres, selling around 59 percent into the domestic market. Bridgestone has a second plant in the country, at Nong Khae, which makes passenger car tyres.
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