Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
May 15, 2014 02:00 AM

Bridgestone to invest $57 million in Italian plant

Tire Business Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    ROME—Bridgestone Corp., backed by funding from the Italian investment agency Invitalia, is planning to invest $57 million in its car and light truck tire plant in Bari, Italy, which the Japanese tire maker earlier had targeted for closure.

    Invitalia, the Rome-based agency for inward investment promotion and enterprise development, is providing $19 million in funding for the project, which will upgrade the 52-year-old factory's tire-assembly machinery and restore capacity to 3.5 million tires a year.

    Bridgestone announced its intention in March 2013 to close the plant, citing its production focus on low-range car tires, a segment that increasingly is being served by imports from companies based in emerging nations.

    The company reversed itself six months later, after crafting a rescue plan with Italian government and labor union officials.

    Bridgestone and Invitalia signed the investment agreement in Rome May 8.

    Invitalia CEO Domenico Arcuri called the deal “doubly important” because it keeps open an industrial entity that was to be closed and “confirms the effectiveness” of favoring investment in southern Italy.

    At stake are 800 jobs.

    Roberto Mauro, CEO of Bridgestone Italian Manufacturing, said the agreement with Invitalia completes a key component of the rescue plan agreed to last September.

    Invitalia said nearly $53 million of the investment package will be used for buying and installing new machinery and ancillaries, with the rest going to general infrastructure upgrades.

    Bridgestone did not elaborate on what types of tires will be built at the plant following the investment, nor on what, if any, changes in the labor contract were made.

    Related Articles
    Ex-Bridgestone exec pleads guilty; District court indicts three others in price…
    Bridgestone sues TreadWright over tread infringement
    Bridgestone survey reveals teens still text in car
    Bridgestone to consolidate China, Asia-Pacific unit
    Bridgestone reports big jump in first-quarter income
    Modern Family star to pitch Bridgestone's DriveGuard
    Bridgestone to sponsor Olympics through 2024
    Bridgestone buys U.S. hose distributor group
    Expanding operations; Bridgestone, Conti buy aftermarket units
    Bridgestone reports double-digit growth in first half
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    3M to exit manufacturing of PFAS by end of 2025
    2
    Pros and Cons: A look at 4 emerging sustainable carbon black methods
    3
    Illinois attorney general sues 14 firms over PFAS contamination
    4
    No alternative in sight: Why Michelin is emphasizing sustainability of hevea
    5
    Teknor Apex uses 'world's first' bio-based plastic substitute in new TPE
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION