Bridgestone invests $70 million in Japanese plant.

Bridgestone, Tokyo, Japan, will invest more than $70 million in a Japanese plant for diversified products. The plant, scheduled to open in spring of 2000 in Shizuoka Prefecture, will serve the growing demand for high-performance films and for precision components for rubber and plastics. Construction work on the plant will begin in spring of 1999. Bridgestone will also build a technical center for diversified products at the company's Yokohama plant, which is Bridgestone's flagship factory for non-tire products. Construction will begin in November, and the center will open in March of 2000. Investment in the center will total about $23 million. Bridgestone will merge the two companies that have handled its Bridgestone and Firestone brands separately in New Zealand. On September 1, the tiremaker will establish Bridgestone/Firestone New Zealand Limited in Aukland to inherit the operations of Bridgestone Tyres (N.Z.) Ltd., which markets Bridgestone brand tires, and Firestone N.Z. Limited, which manufactures and markets Firestone brand tires. Bridgestone Tires (N.Z.) was previously a wholly owned subsidiary of Bridgestone, and Firestone N.Z. was a wholly owned subsidiary of Bridgestone/Firestone, Bridgestone's U.S. subsidiary in Nashville, TN. The new company will report directly to Bridgestone in Japan.