Bridgestone to spend $195 million for new Thai tire plant

BANGKOK, Thailand (Nov. 17)—Bridgestone Corp. plans to invest $195 million to build a radial truck and bus tire plant in Chon Buri, a Bangkok suburb, according to Thailand´s Board of Investment, which recently granted Bridgestone tax incentives for the project. The factory, Bridgestone´s third in Thailand, will create 1,000 jobs and consume nearly $60 million worth of local raw materials annually. The plant will operated by a new subsidiary, Bridgestone Tyre Manufacturing (Thailand) Ltd., and export up to 90 percent of its output to the U.S. and Europe, according to the investment board. Bridgestone´s existing tire facilities in Thailand operate under Thai Bridgestone Ltd., have combined annual capacity of 6 million tires, and reported $197 million in sales last year.