Bridgestone, Tokyo, Japan, announced plans to produce and market tires in Poland. The move is said to strengthen the company's strategic capabilities to meet demand for products in nations of eastern and western Europe. Bridgestone/Firestone Poland Limited Liability Company, a joint venture of Bridgestone and Stomil Poznan S.A., a state-owned company, will be located in Poznan, about 300 kilometers west of Warsaw. Bridgestone will own 71.2% of the venture. Stomil Poznan will own 28.8%. The joint venture plans to start production of radial tires for passenger and small commercial vehicles in July, 2000. Initial production will be 5,000 tires daily the first year, increasing to 10,000 within a few years. The company will employ approximately 300 when manufacturing starts, with the workforce increasing as production rises. Capital investment for the project will be approximately $75 million. With the start of mass production at its new tire plant in India, Bridgestone now operates 41 tire manufacturing facilities in 21 nations. The newest plant is near Indore, within the state of Madhya Pradesh, India. The facility started as a joint venture with companies of the Indian-based Tata Group. Bridgestone now owns 67% of the joint venture, known as Bridgestone ACC India, Ltd. The plant produces radial tires and tubes for passenger vehicles and small vans, for both the replacement and original equipment markets in India. Annual production is forecast at 1.9 million tires for the plant, which covers 41,000 square meters.
Printer friendly
Cite/link
Email
Feedback