Bridgestone Corp. announced Thursday it expects to spend 280 billion yen ($3.56 billion) to expand tire capacity in emerging markets, including India and Thailand.
The announcement was part of the tiremaker’s 2012 mid-term management plan, which covers 2013-17. Half of the annual spending will go toward "tire strategic projects," the company said.
Bridgestone said its ultimate goal is to become the "undisputed world No. 1 tire and rubber company in both name and reality."