Bridgestone Corp. will postpone the start of production at its newest Thailand plant due to global demand.
The plant produces OTR tires for coal-mining vehicles. The plant was scheduled to begin production the first half of 2015, outputting 85 tons a day by the first half of 2019. The tiremaker will announce a new output start date once the demand for the tires returns.
“It will take some time before mining-vehicle tire demand heats up,” said Masaaki Tsuya, CEO of Bridgestone Corp.
Coal prices have dropped to their lowest since October 2009 based on the GlobalCOAL NEWC Index.
Tsuya said political turmoil in Thailand has affected the planned timing of production.