CLARK FREEPORT – Yokohama Tire Philippines Inc. (YTPI) has started construction on a P3.5-billion expansion of its tire plant here.
Set to be completed by the end of 2025, the project will increase YTPI’s daily production capacity to 34,100 tires, from 32,300, and achieve an annual output of 10 million tires by 2026. YTPI is a subsidiary of Japan’s Yokohama Rubber Co. Ltd. (YRC).
YTPI president and CEO Atsushi Funayama, Department of Trade and Industry Secretary Alfredo Pascual, Clark Development Corp. chairman Atty. Edgardo Pamintuan and president and CEO Atty. Agnes VST Devanadera, CCT Constructors Corp. chairman Hiroki Nakazawa, Mabalacat City Mayor Crisostomo Garbo, and Angeles City Mayor Carmelo Lazatin, Jr. led the groundbreaking ceremony.
Funayama said the new facility will integrate Japanese technology with Filipino craftsmanship to produce high-quality tires. The expansion is also expected to increase the workforce from 3,525 to 4,000 employees within the next two years.
In light of this expansion, Devanadera stressed the important role that investment promotion agencies (IPAs) play in supporting and accelerating business growth within the Freeport.
“Our duty as an IPA is to support and sustain the thriving businesses of our existing locators. CDC is proactively exploring ways to enhance our support,” she said.
For his part, Pascual said “So, we invite the manufacturing companies here to come to the Philippines. With the new plant set to be operational by the second quarter of 2026, we are witnessing the tremendous progress YTPI has made since its operations in the country in 1996.”
YTPI was among the early blue-chip locators to the then-fledgling Clark Special Economic Zone. Through the years, YTPI has consistently supplied trusted brands of passenger car radial and recreational vehicle tires throughout the Asia Pacific region, including the Philippines.
Pascual hailed the company for setting the industry standard as the sole tire manufacturing company in the Philippines and establishing a strong global presence.
“Hopefully, they can further contribute to economic growth in the country by increasing the purchases of natural rubber from our producers, mostly in Mindanao,” the secretary said. YTPI sources 50% of its requirement from local sources.
In acknowledging the support received throughout the expansion process, Funayama expressed his gratitude for the collective effort that made the expansion possible.
“Since the beginning of the expansion, the CDC has been very supportive led by its brilliant and hard-working president and CEO Atty. Agnes VST Devanadera, and her entire team. Finally, I would like to express my heartfelt gratitude to our esteemed guests, stakeholders, and partners for their invaluable support in turning this vision into a reality,” Funayama said.
“While the shovels in the ground may be ceremonial today, the impact of this new facility will pave the way for a brighter future. Not just for our organization, for our people, but also for the community we serve,” enthused Funayama. Punto News Team/CDC-PR
