Bridgestone confirms plan to build two tyre plants

Tokyo--Bridgestone Corp. has confirmed that it intends to build two new tyre plants at a total cost of over ¥50 000 million (€362 million). The company confirmed press reports that the two plants would be in the central European sector and in China, but said further details would be forthcoming in the coming weeks.

A report in the Nihon Keizai Shimbun Friday morning edition said, "The leading Japanese tyre maker aims to set up its fourth Chinese factory in Huizhou, Guangdong Province, and produce tyres for passenger cars, trucks and buses." This plant, it said, would serve Toyota, Nissan and other customers with factories in the region.

In central Europe, the company said it expects to build a plant in the region, but declined to add further details. The Nikkei report said the two plants might begin operations as early as 2006. The Nikkei added that capital spend at Bridgestone was likely to reach ¥200 000 milliion (€1500 million) in each of the next two to three years.

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Nikkei (Japan) story (Subscription to Nikkei might be required)

Bloomberg (US) story