Factory in Hai Phong established to meet growing global tire demand through manufacturing and export
Singapore (October 24, 2014) – Bridgestone Asia Pacific Pte. Ltd. (BSCAP) today announced that its group company, Bridgestone Tire Manufacturing Vietnam Limited Liability Company (BTMV), held a ceremony to mark the grand opening of its first tire plant in Vietnam. Located in Hai Phong City, the opening ceremony was attended by guests from the Vietnam government, Hai Phong City, the Embassy of Japan in Vietnam, and related companies like automotive companies.
BTMV started production of passenger car radial tires (PSR) in April 2014 and its total production capacity is expected to reach 49,000 tires per day by the second half of 2017. The plant will serve as a key export base to Europe, North America and Japan when fully operational.
“Bridgestone expresses our sincere gratitude to the government of Vietnam, Hai Phong City and all cooperating members, for allowing us to make BTMV a reality,” said Masaaki Tsuya, CEO and Representative Board Member, Concurrently Chairman of the Board, Bridgestone Corporation. “BTMV will produce products in line with our corporate philosophy of “Serving Society with Superior Quality”, and will strive to develop our business and contribute to the local community in Vietnam.”
Teruo Kunitake, General Director of BTMV, said “With the support of the local community, BTMV has been growing from strength-to-strength. We now have over 1,100 employees who are mostly Vietnamese and are increasing our manufacturing output on a daily basis. Apart from contributing to Vietnam’s economy, we also plan to drive a better future by supporting the local community and environment in Vietnam.”
To respond more quickly to changes in market demand and supply high quality products to our customers, the Bridgestone Group will continue to build on its manufacturing and distribution system. Additionally, BTMV and the Bridgestone Group will also continue working to support the growth and development of the local communities of Vietnam.
Aerial photo of BTMV (as of August, 2014)
< Overview of BTMV >
1. Company name: Bridgestone Tire Manufacturing Vietnam Limited Liability Company
2. Location: Dinh Vu Industrial Zone, Hai Phong City, Vietnam
3. Representative: Teruo Kunitake, General Director
4. Capital: US$ 447.8 million
5. Ownership: Bridgestone Corporation 100%
6. Business Activities: Manufacturing and sales of PSR
7. Establishment: February 2012
7. Start of operations: April 2014
8. Site area: Approximately 1.02 million square meters
9. Employees: Approximately 1,100 employees (as of September, 2014)
10. Production capacity: Approximately 10,000 tires per day (planned for the end of 2014)
< Planned schedule of BTMV >
Bridgestone Corporation, headquartered in Tokyo, is the world’s largest tire and rubber company. In addition to tires for use in a wide variety of applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Its products are sold in over 150 nations and territories around the world.
Bridgestone Asia Pacific Pte. Ltd. is the regional headquarters for the Company’s operations in China and Asia Pacific. Located in Singapore, it oversees tire production, sales facilities, and supplies its products to over 25 countries in the region. Bridgestone Asia Pacific Pte. Ltd. plays a key role in facilitating this large and growing market which contributes significantly to the entire Bridgestone Group.