Bridgestone firm on its pledges

July 02, 2012 | 14:37

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Bridgestone Corporation, the world’s largest rubber and tire-maker, is to make good on its commitment to Vietnam this Monday as it breaks ground on its first manufacturing factory in northern Haiphong port city.

illustration photo

The project is located in Dinh Vu Industrial Zone in the coastal city, the key gateway for northern Vietnam’s imports and exports. The construction of this $575 million project will be completed by 2016’s first half with a production capacity of approximately 24,700 passenger car tires per day and it will serve as an export base for replacement tires sold in the European, North American, and Japanese markets.

Previously, Bridgestone had increased its production capacities at the Nong Khae plant in Thailand and the Karawang plant in Indonesia to supply PSRs to those markets. Bridgestone received an investment certificate for Vietnam-based project in February this year and the corporation said Vietnam was suitable place for building a new plant after it made a comprehensive evaluation of infrastructure, location, workforce and cost.

At present, Vietnam is also a manufacturing base for South Korea’s Kumho Tire, another leading global tire-maker. In 2008, Kumho Tire inaugurated its $200 million tire factory in southern Binh Duong province. The Korean firm also announced to raise investment capital in Vietnam to $500 million for meeting the rising global demand.

By Nhu Ngoc

vir.com.vn

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