BRIDGESTONE TO INVEST 304.3 MILLION USD FOR PLANT EXPANSION IN INDIA
Pune, August 8, 2017:
Pune, 8th August 2017-
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.
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, Mr. Kazutoshi Oyama, Executive Director, Bridgestone India Pvt. Ltd. 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 Mr. Oyama.
This investment will further enhance Bridgestone India’s capability and capacity to produce tyres with cutting edge technology, to contribute in respect of the environment, while supporting the increasing demands of mobility to improve and facilitate the way the Indian community move, live and work.
About Bridgestone India:
Bridgestone India Pvt. Ltd started its operations in 1996. In March 1998 with the setup of its manufacturing facility in Kheda, Madhya Pradesh, Bridgestone achieved its objective of running India-manufactured Bridgestone tyres on Indian Roads. It expanded its facilities by setting up another facility in Chakan, Pune in 2013. In a short stint of 18 years, Bridgestone India Pvt. Ltd has become one of the leading tyre companies in both the OEM & Replacement market in India.
About Bridgestone Corporation:
Bridgestone Corporation, headquartered in Tokyo, is the world’s largest tyre and rubber company. In addition to tyres for use in a wide variety of applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Its products are sold in over 150 nations and territories around the world.
Corporate Communications, Bridgestone India Pvt. Ltd.