Foundation Stone Laid at Yokohama’s Russian Plant
On March 23 the governor of Russia’s Lipetsk Oblast region, Oleg Korolyov, participated in a stone laying ceremony for Yokohama’s new tyre factory in the Lipetsk special economic zone. The ceremony, also attended by Yokohama Rubber managing director Mr. Suzuki along with Japanese and Russian government officials. In his welcoming speech, Mr. Suzuki stated that “Russia has become one of the three largest markets for us, on par with the US and China.” He added that Yokohama looks forward to working together to establish the Yokohama R.P.Z. L.L.C facility.
According to the Lipetsk Oblast regional government, the building of the Yokohama factory is part of an agreement between Japan and the Russian Federation to develop the production of vehicles and automotive components in Russia. The 43,000 square metre factory, to be built on a 24-hectare site, is expected to produce its first tyre in 2011 and reach its intended capacity of 1.4 million tyres per annum in 2014. The tyres will be shipped to OEM customers both in Russia and internationally, the Lipetsk Oblast government adds. Total investment in the project is said to be 3.76 billion roubles (£84.7 million), while according to Yokohama, the cost of constructing the plant itself will be 4.8 billion roubles (£99.1 million).