To fulfil plans to increase tire making capacity, Yokohama Rubber Corp. has signed a contract to lease a 300,000-square-meter section of land adjacent to the Yokohama Tire Philippines plant, some 60 kilometres northwest of Manila. 
The leasing contract for the land at the former U.S. Air Force base was signed between Yokohama and Clark Development Corporation on Feb. 12. The capacity expansion plans were first announced in late January and involve a total investment of 50 billion yen in order to increase capacity 143% to 17 million units per annum.
Present at the signing ceremony along with representatives of Clark Development Corporation were Tadanobu Nagumo, Yokohama’s president and representative director; Hikomitsu Noji, the company’s director and managing corporate officer; and Takayuki Hamaya, president and CEO of Yokohama Tire Philippines. During the proceedings, Noji discussed Yokohama’s global strategy aimed at attaining sales of one trillion yen in 2017, and Takayuki Hamaya presented an overview of the Yokohama Tire Philippines expansion plan. A message from Philippines president Benigno S. Aquino III was also read out.
In the message, Aquino expressed his gratitude for the 2,000 jobs that have been created over the years through Yokohama Tire Philippine’s investment in the Clark Freeport Zone and for the 3,000 new jobs to be created through the current plant expansion. The message also stated the president’s anticipation of long-term cooperation and friendship between the parties involved. (Tyres & Accessories)
