Yokohama announces significant investment in Philippines site

qiangzi

Yokohama is the latest tire manufacturer to announce significant investment in its Far Eastern facilities. Following news of Bridgestone’s investment in Vietnam last week, Yokohama is set to invest around US$633m into its Philippines site by 2017.
$ D/ z9 ?' e4 ?
Staggered over phases, the investment is scheduled to begin with a US$253m new build that will be situated adjacent to the existing facility. Phase two of the expansion will be added by 2014.

) D. {- ^# M. U9 t$ n) \At present, the Philippines site produces some seven million tires per annum, following the initial investment stage, this figure will rise to 10 million per annum, before reaching 17 million by 2017.
- a/ C  x0 G& o! }
The expansion at Yokohama’s Philippines site is just part of an ongoing strategy by the company that has seen investment at the Shinshiro-Minami plant in Japan, Hangzhou facility in China as well as sites in Thailand and the USA. An additional site in Russia has also just been opened and when combined with the investment at other sites, Yokohama are expecting to up total production capacity to 60m tires per annum.