Bridgestone Set to Build 50th Tire Plant
To meet growing global demand for passenger car radials, Bridgestone Corp. has decided to erect a new plant in Vietnam. The company will invest 35.5 billion yen in the project, which is expected to enter production in the first half of 2014. When production reaches full capacity in the first half of 2016, the Vietnam
Bridgestone Poised to Make ‘Record’ Investments
Bloomberg is reporting that Bridgestone Corp. "will spend a record $3.9 billion next year to expand production to meet rising demand from emerging markets." On tap is a new aircraft tire plant in the U.S., as well as a boost to production capacity in China, according to CFO Akihiro Eto. “In emerging markets right now,
Budget Lines and Emerging Markets Key to Michelin Future
At its most recent Investors Day, held at the company’s Cuneo site in Italy, Groupe Michelin confirmed its growth outlook for the coming decade. The tire major anticipates the global passenger car and light commercial vehicle tire market reaching 1.5 billion units in 2015, a figure representing a 25% growth on 2010 figures. Looking further
Yokohama Opens Driving Program to Enthusiasts
Yokohama invited members of local car clubs to a special ride and drive function Sept. 21 in San Diego.
Margin Stable as Michelin Sales Increase
Groupe Michelin has released its first half financial results, showing stable operating income of 971 million euros for a 9.6% operating margin, with net sales up 21%. Michelin says the figures are in line with its corporate ìroad map, revising its full year sales volumes objectives upwards – after 12.6% market growth in the first
Sumitomo Building New Plant in Brazil
Sumitomo Rubber Industries plans to build a passenger and light truck/SUV tire plant in Brazil, aiming for production to start in the fall of 2013. The $346.6 million project will employ an estimated 1,600 people, and is slated to reach production levels of 15,000 tires per day by 2016. Construction on the 500,000-square-meter plant is
Michelin Selected for First China Airliner
Groupe Michelin has been selected to develop and supply tires for the first commercial airliner to be designed in China, the Comac C919.
The Price Crisis: A Special Report
As with any consumer good industry, tire prices have seen near consistent twice-annual increases for as long as anyone can remember. In tougher times, perhaps only one price hike; don’t want to chase away the consumer, after all! January would bring one increase, and June the second. In both cases, those increases were erased within
Mitas U.S. Factory Orders Up Curing Presses
Mitas Tires North America has signed a contract to acquire 17 curing presses worth $10 million for its new Charles City, Iowa, ag tire plant. The presses will be delivered and installed in August and September 2011. The plant is slated to start producing radial tires in 2012. “Mitas is committed to Iowa,” said Vladimir
How Health Care Reform Affects Small Businesses
There’s plenty of debate about whether the new health care reform bill is good for America. Whatever your views, it looks like the Affordable Care Act – a massive piece of legislation passed by Congress in March – is here to stay. The majority of Americans without health insurance are the owners or employees of