TOKYO (March 28, 2012)—Yokohama Rubber Co. Ltd. said it will build a passenger tire plant in the state of Haryana, India, at a cost of about $53 million.
The factory will be built on a 25-acre site the company acquired four years ago. Yokohama said the facility will have an initial annual capacity of 700,000 tires.
Yokohama India Pvt. Ltd., a sales company set up in 2007, will oversee the plant once it's operational, Yokohama said. Construction of the factory had been delayed as a result of the 2008 global economic recession.
The company expects its employment in India to hit 350 once the plant is open.