Bridgestone troops into Vietnam

The Vietnam unit of Japanese tire manufacturer Bridgestone Corporation has inaugurated its first tire plant in the Southeast Asian country, Bridgestone Asia Pacific Pte. Ltd. (BSCAP) said last week.

The plant, operated by Bridgestone Tire Manufacturing Vietnam Limited Liability Company (BTMV), is located in the Dinh Vu Industrial Zone in the northern city of Hai Phong, around 100km from Hanoi, BSCAP said Friday in a press release to announce its grand opening the same day.

The total capital for the facility is US$447.8 million, 100 percent of which is covered by Bridgestone Corporation, according to BSCAP.

The production facility was established in February 2012, and BTMV started production of passenger car radial tires in April 2014, with a capacity of 6,000 tires per day.

Total production is expected to increase to 10,000 tires per day by the end of this year, and 49,000 tires per day by the second half of 2017, according to BSCAP.

The facility will serve as a key export base for the European, North American, and Japanese markets once it becomes fully operational.

“Bridgestone expresses our sincere gratitude to the government of Vietnam, Hai Phong City and all cooperating members, for allowing us to make BTMV a reality,” Bridgestone Corporation CEO Masaaki Tsuya said in a statement.

“BTMV will produce products in line with our corporate philosophy of ‘Serving Society with Superior Quality,’ and will strive to develop our business and contribute to the local community in Vietnam.”

BTMV general director Teruo Kunitake said the company has been “growing from strength-to-strength” thanks to the support of the local community.

“We now have over 1,100 employees who are mostly Vietnamese and are increasing our manufacturing output on a daily basis,” he said.

Headquartered in Tokyo, Bridgestone Corporation is the world’s largest tire and rubber company, according to the company website.

In addition to tires for use in a wide variety of applications, it also manufactures a broad range of diversified products, including industrial rubber and chemical products and sporting goods.

Bridgestone products are sold in over 150 nations and territories around the world.

Located in Singapore, Bridgestone Asia Pacific Pte. Ltd. is the regional headquarters for Bridgestone’s operations in China and Asia Pacific.