Bridgestone to Build New Plant in Japan for Diversified Products; Plant will be in Shizuoka Prefecture and Will Make High-Performance Films and Precision Rubber and Plastic Components.NASHVILLE, Tenn.--(AutomotiveWire)--July 16, 1998--Bridgestone Corporation announced today that it will invest more than Yen 10 billion (about $70 million) in a new Japanese plant for diversified diversified (di·verˑ·s products. The plant, scheduled to open in spring 2000, will serve rapidly growing demand for high-performance films and for precision components of rubber and plastics. Construction work on the plant will begin in spring 1999. The new plant will be Bridgestone's 13th plant in Japan and the company's 4th Japanese plant for non-tire products. Diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. is a strategic priority for Bridgestone, which has established footholds in construction materials, civil engineering materials, precision materials for office equipment, and automotive components, among other products. Management is counting on the high-performance films and rubber and plastic components produced at the new plant to contribute greatly to expanding business in non-tire markets. Outline of the Plant 1. Location Iwata Hokubu Industrial Park Sagisaka, Iwata City, Shizuoka Prefecture 2. Area Site 17.3 hectares (42.9 acres) Buildings 1.8 hectares (4.5 acres) 3. Products High-performance films Precision rubber and plastic components 4. Start of Construction Spring 1999 5. Completion Spring 2000 6. Employees About 130 7. Investment More than Yen 10 billion (about $70 million) Bridgestone Corporation, headquartered in Tokyo, is a leader among the world's tire companies Manufacturer Country Est. Brands and Subsidiaries Aeolus Tyre China Alliance Tire Company Ltd. Israel 1950 Amtel-Povolzhye, Kirov; Amtel-Chernozemye, Voronezh Apollo Tyres Ltd. , producing a complete line of tires which account for 78 percent of its sales worldwide. It also manufactures a wide range of diversified products which include industrial rubber and chemical products, sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport and others. These products are sold in more than 150 nations and territories around the world. Bridgestone is the parent company of Bridgestone/Firestone headquartered in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. . Bridgestone/Firestone develops, manufactures, and markets Bridgestone, Firestone fire·stone n. 1. A flint or pyrite used to strike a fire. 2. A fire-resistant stone, such as certain sandstones. Noun 1. , Dayton and private-brand tires. The company also produces Firestone air springs, roofing materials, synthetic rubber synthetic rubber: see rubber. , and industrial fibers and textiles.
CONTACT: Bridgestone/Firestone
Trevor Hoskins, 615/872-1410 or 800/851-7000
http://www.bridgestone.com
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