IZMIT, Turkey (April 20, 2012)—Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret A.S. is budgeting $117.5 million this year to expand capacity at its sprawling factory in Izmit.
Brisa, a joint venture of Japan's Bridgestone Corp. and Turkey's Sabanci Holdings, did not say how much capacity at the car, light and medium truck tire plant would change. Capacity at the 3.88 million-sq.-ft. plant is listed as 10 million tires a year. Employment is about 2,000.
The expansion is designed to help Brisa meet growing demand in both local and export markets and reinforce the firm's commitment to expand the company's Lassa brand globally, said Hakan Bayman, general manager of Brisa.
The company reported sales last year of $896 million, a 37.5-percent increase over 2010. During the past four years, the amount of revenue derived from exports has risen 47 percent, Brisa said.
Bridgestone and Sabanci both own 44 percent of Brisa; the remaining 12 percent is owned by minority shareholders. Sabanci founded the company, known initially as Lassa, in 1974; Bridgestone became the joint venture partner in 1988.