ERJ staff report (DS)
Clark Freeport, Philippines -- The Clark Development Corporation (CDC) has signed a Memorandum of Understanding with Yokohama Rubber for a $650-million expansion project that would make Yokohama's tyre factory in the region the world's biggest.
A story in the Philippines-based Sun-Star newspaper reported on a signing ceremony attended by Philippines President Aquino and other dignitaries. Yokohama could not be reached for comment and the Clark Development Corp did not respond to questions.
Under the plan, Yokohama will invest a further $650 million in the plant between now and 2017. At today's rates, said the report, the plant would then be the biggest in the world, making 40 000 tyres per day (up from the current figure of 22 000).
In May of this year, Yokohama said it had broken ground on the project, which will increase output to 17 million units/year by 2017, from the current figure of 7 million.
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Press release (30 May 2011) from Yokohama
Clark firm, Yokohama ink pact for $650 million expansion project Sun Star (Philippines)