Bridgestone seen planning $11 billion investment
Japan’s Bridgestone will invest more than $11 billion over five years to boost production as it vies with France’s Michelin for the title of the world’s top tyremaker, a report said Saturday.
The Japanese group plans to spend 1.3 trillion yen ($11.2 billion) for five years from April 2008, up 20% from the preceding five years, the Nikkei daily said. The group’s capital spending will increase as it puts new factories into operation in Mexico, Poland and Hungary during the five-year period while expanding existing plants in India and Indonesia, it said. In August, Bridgestone announced it would invest nearly 200 million dollars to expand tyre factories in India, where more motorists are taking to the road, and into a production hub Indonesia. The Nikkei said Bridgestone was also considering building a new factory in Russia. No immediate comment on the report was available from Bridgestone on Saturday.
The Nikkei said the investment would be the pillar of the group’s new mid-term management plan. Bridgestone is scheduled to unveil a mid-term business plan on Monday. (servihoo.com)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.