Bridgestone Tire Manufacturing Vietnam, a subsidiary of Japanese tiremaker Bridgestone, is set to invest JPY41.6bn ($422.8m) in its new passenger car radial tires(PSR) plant in Hai Phong City, Vietnam.
This move of the company is aimed at increasing the production capacity of this new plant in order to growing demand for tires globally.
The facility plans will increase the capacity by approximately 24,000 tires per day by the second half of 2017, and following the expansion, the plant's total capacity will be approximately 49,000 tires per day.
This new plant is scheduled to begin operation in March 2014, and will act as an export base for PSR general-purpose tires sold in Europe, North America, and Japan, principally.
Besides this, the company will support the economic development in Hai Phong City and Vietnam through its operation and presence in the country.
