CLARK FREEPORT – The Yokohama Tire Philippines Inc. (YTPI) here announced yesterday that it would increase its tire production by 10 million yearly and pour in some Y20-billion for its new manufacturing plant.
In a press statement, the YTPI said it produces seven million tires yearly since it started its operations in 1996.
“The expansion would commence once YTPI signs an agreement with Clark Development Corporation for the start of the construction of a new tire plant at the adjacent (area) this February,” said the tire company based in Japan.
YTPI said it plans to operate the new tire plant by 2013. It added that it will be fully operational in 2014.
“The amount of investment in the first-phase expansion is Y20-billion. We plan to increase our annual production capacity to 17 million tires by 2017,” the company said.
Some Y50-billion will be used in the planned expansion of the YTPI, it was learned.
“The purpose of enhancing YTPI’s production capacity is to implement business plans set in the third phase of the Grand Design 100, the company’s medium-term management plan, to be started in 2012,” they said.
The YTPI disclosed that it would produce tires imported to North America in the new facility.
The new tenancy contract for 300,000 square meters gives the YTPI a total plant area of 460,000 square meters, 2.8 times of that of its current area, the statement said.
Established in 1996 as manufacturer of passenger-car tires for export, the YTPI is currently manufacturing tires with internal diameters from 13 to 18 inches for passenger cars and sports utility vehicles (SUVs) and most of the tires are being exported to Europe, North America and ASEAN countries.
YTPI tires are also delivered to car manufacturers in countries in North America and Asia.
Yokohama Rubber is expanding the production capacities at Shinshiro-Minami Plant in Japan, Hangzhou Yokohama Tire Co., Ltd, in China, Yokohama Rubber Manufacturing (Thailand) Co., Ltd., and Yokohama Tire Corporation in the United States.
The company is working on the construction of a tire plant in Russia for its planned operation starting in 2012.
These expansion programs are expected to increase the Yokohama Rubber group a total tire production capacity of 60 million tires a year by the end of the same fiscal year.
In a press statement, the YTPI said it produces seven million tires yearly since it started its operations in 1996.
“The expansion would commence once YTPI signs an agreement with Clark Development Corporation for the start of the construction of a new tire plant at the adjacent (area) this February,” said the tire company based in Japan.
YTPI said it plans to operate the new tire plant by 2013. It added that it will be fully operational in 2014.
“The amount of investment in the first-phase expansion is Y20-billion. We plan to increase our annual production capacity to 17 million tires by 2017,” the company said.
Some Y50-billion will be used in the planned expansion of the YTPI, it was learned.
“The purpose of enhancing YTPI’s production capacity is to implement business plans set in the third phase of the Grand Design 100, the company’s medium-term management plan, to be started in 2012,” they said.
The YTPI disclosed that it would produce tires imported to North America in the new facility.
The new tenancy contract for 300,000 square meters gives the YTPI a total plant area of 460,000 square meters, 2.8 times of that of its current area, the statement said.
Established in 1996 as manufacturer of passenger-car tires for export, the YTPI is currently manufacturing tires with internal diameters from 13 to 18 inches for passenger cars and sports utility vehicles (SUVs) and most of the tires are being exported to Europe, North America and ASEAN countries.
YTPI tires are also delivered to car manufacturers in countries in North America and Asia.
Yokohama Rubber is expanding the production capacities at Shinshiro-Minami Plant in Japan, Hangzhou Yokohama Tire Co., Ltd, in China, Yokohama Rubber Manufacturing (Thailand) Co., Ltd., and Yokohama Tire Corporation in the United States.
The company is working on the construction of a tire plant in Russia for its planned operation starting in 2012.
These expansion programs are expected to increase the Yokohama Rubber group a total tire production capacity of 60 million tires a year by the end of the same fiscal year.
