Yokohama to Build TBR plant in the US
On 26 April, Yokohama Rubber announced plans to set up a new plant to manufacture truck and bus tyres in the United States. The plant will be established with a capital investment of US$300 million and construction work will begin at the site in West Point, Mississippi by September 2013. The Japanese tyre maker intends for production to start in October 2015 and says the factory will have an annual production capacity of one million tyres.
Yokohama currently supplies tyres to the North American market via GTY Tire Company, a US joint venture company specialised in manufacturing truck and bus tyres, and through export from Japan and Thailand. The company says it nevertheless “considered it necessary” to build a new plant so as to accommodate increasingly growing demand for the Yokohama brand and to further strengthen its aim of facilitating “local production for local consumption”.
The new plant is slated to be built on more than 500 acres (200 hectares) of land and represents Phase I of Yokohama’s overall plan for the site. Potential expansions could increase the scale of the original facility by up to approximately four times in accordance with future business growth.