HAI PHONG CITY, Vietnam (July 2, 2012)—Bridgestone Corp. has broken ground on its $457 million radial car tire plant in Hai Phong City, whose production will be destined primarily for export to Europe, North America and Japan.
Manufacturing is expected to start by March 2014, Bridgestone said, although the plant won't be completed until the first half of 2016. Annual production capacity will be 24,700 tires per day with 1,900 employees.
Bridgestone said a plant in Vietnam was necessary to respond to growing demand, complementing other expansions in the region at plants in Nong Khae, Thailand, and Karawang, Indonesia.
The plant is situated on an 11-million-sq.-ft. plot of land in Hai Phong City's Dinh Vu Industrial Zone.