Bridgestone’s Steel Investment
Bridgestone, Metalpha USA, is set to expand its production facility in Clarksville, with a $45 million project (£25 million).
A subsidiary of Nashville-based Bridgestone Americas holding Inc, the company is one of the world’s largest producers of steel cord, which is used as reinforcement in radial tyres.
The development will see 125,000 square feet added to the existing 690,000 square foot site. More significantly the production capacity of the plant will be increased by 6,000 metric tons.
Construction is expected to begin by February 2005, although intense production is not due to begin until the first quarter of 2006. The proposed development is the company’s third expansion at the facility, and will add a further 35 employees, to an existing team of 350 workers. The total capital investment in the production plant is now estimated to be $245 million (134 million).
Mike Hill, executive vice president of operations at the facility, explained that the addition of highly automated equipment would increase the plant’s capacity to 58,000 metric tons of steel cord per year. The company also states that it is expected to reach its capacity of 50,000 tons this year.