Yokohama To Build Truck/Bus Tire Plant In The U.S.
The Yokohama Rubber Co., Ltd. announced that it will construct a new plant to manufacture truck/bus (TB) tires in the United States. With a capital investment of $300 million, the Japanese tire maker will build the new plant in West Point, Miss.
The plant will have an annual production capacity of 1 million tires, the company said. Under the company’s plan, construction will begin by September this year and tire production will begin in October 2015.
Yokohama Rubber has been supplying tires to the North American market through GTY Tire Co., a U.S. joint venture company specialized in manufacturing TB tires, and through export from Japan and Thailand. Yokohama Rubber however considered it necessary to build the new plant so as to accommodate the increasingly growing demand for its brand and further strengthen a system aimed at “local production for local consumption”.
The new plant is slated to be built on a 500-acre plot and represents the first phase of Yokohama’s overall plan for the site. Potential expansions could increase the original business size up to four times in scale in accordance with future business growth.