BRIDGESTONE TO INVEST 304.3 MILLION USD FOR PLANT EXPANSION IN INDIA
Guwahati: Bridgestone India Pvt. Ltd., a group company of Bridgestone Corporation, the world’s leading tyre and rubber company, today announced its expansion with an investment of 304.3 Million USD for both the Pune (Chakan) and Indore (Kheda) plants. The investment will be done in a phased manner over the next five years starting 2017.
Thisinvestment will enable Bridgestone’s Indian plants to meet increased tyredemand owning to growing vehicle population and production. Production capacityis expected to increase by an estimated 15,000 tyres per day, bringing totaldaily production from both plants to approximately 41,000 tyres by 2022. Inaddition to capacity expansion, this investment will enable the expansion ofthe size production mix capability of both plants in order to better match theevolution of car industry models being released to the local market. It is alsoexpected to create 450 jobs for skilled manpower.
Speaking about the announcement, Mr. KazutoshiOyama, Executive Director, Bridgestone India Pvt. Ltd. said, “Thisinvestment affirms our commitment to expand Bridgestone’s footprint in India,which is one of the fastest growing markets in the world, and will enableBridgestone India to be equipped with advanced manufacturing technology andprocesses that will allow us to better serve our customers with products ofsuperior quality.”
“I am also excited about the benefits it willbring to our local community and team members, as further evidence ofBridgestone’s commitment to contribute to the evolution of the societies ineach Region in which we operate in,” added Mr.Oyama.
Thisinvestment will further enhance Bridgestone India’s capability and capacity toproduce tyres with cutting edge technology, to contribute in respect of theenvironment, while supporting the increasing demands of mobility to improve andfacilitate the way the Indian community move, live and work.