Japanese tire maker Yokohama Rubber Company (Yokohama Rubber) today announced that the company's tire plant in the Philippines on May 23, 2011 held a groundbreaking ceremony for the expansion project.
Yokohama Rubber said that the company’s expansion of the Clark Special Economic Zone plant is approximately 40 miles northwest of Manila, the capital city of the Philippines. After the expansion, the factory area will be expanded threefold to 460,000 square meters. At the same time, the company will invest 50 billion yen (approximately 377 million pounds) in the plant by 2017 to increase its annual tire production capacity from 7 million to 17 million.
According to Tadanobu Nagumo, president of Yokohama Rubber Corporation, “This expansion project is an important part of Yokohama Rubber Co., Ltd.'s efforts to increase production capacity to meet global customer needs and enhance competitiveness.â€
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