Begin typing your search...
Bridgestone to invest $304.3 million to expand in India
Bridgestone India (P) Ltd, a group company of Bridgestone Corporation, a leading tyre and rubber company, announced its expansion with an investment of $304.3 mn for both Pune (Chakan) and Indore (Kheda) plants. The investment will be done in a phased manner over five years starting 2017.
Mumbai
This investment will enable Bridgestone’s Indian plants to meet increased tyre demand owning to growing vehicle population and production.
Production capacity is expected to increase by an estimated 15,000 tyres per day, bringing total daily production from both plants to approximately 41,000 tyres by 2022.
In addition to capacity expansion, this investment will enable the expansion of the size production mix capability of both plants in order to better match the evolution of car industry models being released to the local market. It is also expected to create 450 jobs for skilled manpower.
Speaking about the announcement, Kazutoshi Oyama, Executive Director, Bridgestone India said, “This investment affirms our commitment to expand Bridgestone’s footprint in India, which is one of the fastest growing markets in the world, and will enable Bridgestone India to be equipped with advanced manufacturing technology and processes that will allow us to better serve our customers with products of superior quality.”
“I am also excited about the benefits it will bring to our local community and team members, as further evidence of Bridgestone’s commitment to contribute to the evolution of the societies in each Region in which we operate in,” added Oyama.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android
Next Story