Ulyanovsk, Russia – Bridgestone has completed the construction its first plant in the Russia/CIS region, according to a company source.
A ceremony to mark the milestone, which has not officially been announced by the company was held at a local level.
Volume production is expected in the final quarter of 2016, the source told to ERJ.
The $375-million passenger car tire facility in the Zavolzhye industrial zone in Ulyanovsk Oblast was originally expected to come on stream in the first half of 2016.
Production capacity of the plant is to reach around 12,000 units a day in 2018 and mainly comprise winter tires for the Russia/CIS market.
Around 800 jobs will be created at the plant, operated by Bridgestone Tire Manufacturing CIS LLC, a tire manufacturing company jointly established by Bridgestone and minority partner Mitsubishi Corp., with a 10-percent equity holding.
With the establishment of the tire manufacturing company, Mitsubishi will take an equity stake in Bridgestone CIS LLC (BSCIS), a sales company established in Moscow by Bridgestone.
Bridgestone will have 80 percent equity ownership of BSCIS, with the remaining 20 percent held by Mitsubishi.