ERJ staff report (DS)
Tokyo - The Yokohama Rubber Co., Ltd., said its tyre manufacturing/selling company in Russia has completed construction of its passenger car tyre plant in the region of Lipetsk and held an opening ceremony on the site on May 30, 2012. The plant will now commence approvals and ramp-up before it reaches full capacity a year from now.
Since the groundbreaking ceremony in March 2010, the company has invested 4.8 billion rubles (euro 117 million) to build the new plant. The plant has a building area of 4.3 hectares and annual production capacity of 1.4 million tyres. Yokohama Rubber plans to reinforce the plant's production capacity in stages and is borrowing a 24-hectare land from the Lipetsk Special Economic Zone for future expansion.
Yokohama R.P.Z. was established in December 2008 to initiate tyre production in Russia. The company is currently capitalized at 3.76 billion rubles with investment ratios being 80 percent by Yokohama Rubber and 20 percent by Itochu Corporation.
Invited to the ceremony were a total of 200 people including Alexander Beglov, Authorized Representative of the President of Russian Federation in the Central Federal District, Oleg Korolev, Lipetsk Governor, Chikahito Harada, Ambassador Extraordinary and Plenipotentiary from Japan to Russia and those involved in Russian tyre sales industry. Attendees from Yokohama Rubber included Chairman and CEO Tadanobu Nagumo and Yokohama R.P.Z. President Shinichi Suzuki.
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Press release from Yokohama