LIPETSK, Russia (May 31, 2012)—Yokohama Rubber Co. Ltd. has inaugurated production at its $165 million passenger tire factory in Lipetsk, and disclosed plans to expand the plant.
The plant will support Yokohama's rapid growth in Russia, which at 3 million-plus units is the firm's fourth largest single national market after Japan, the U.S. and China.
The 462,680-sq.-ft. plant is designed to make 1.4 million tires a year at start-up. Yokohama said it plans to “reinforce” the plant's production capacity in stages and is securing a 50-plus acre plot of land from the Lipetsk Special Economic Zone for expansion.
Yokohama R.P.Z. is an 80-20 joint venture involving Yokohama and Japanese trading company Itochu Corp.