According to the consultant McKinsey, the global automotive market is expected to grow until the year 2020, with the industry recording profits of EUR79 billion, up from EUR54 billion in 2012. Thus, Bridgestone Asia Pacific (BSCAP) has opened its plant in Vietnam at an opportune time, investing 77.1 billion yen in the plant.
Operated by Bridgestone Tire Manufacturing Vietnam (BTMV), it recently held a ceremony to mark the opening of its first tyre plant in Vietnam. Located in HaiPhong City, Vietnam. BTMV started production of passenger car radial tyres (PSR) in April 2014 and its total production capacity is expected to reach 49,000 tyres/day by the second half of 2017, with 3,800 employees. The plant will serve as a key export base to Europe, North America and Japan when fully operational.
It currently has 1,100 employees and expects to reach a capacity of 10,000 tyres/day by year end.
“Bridgestone expresses our sincere gratitude to the government of Vietnam, Hai Phong City and all cooperating members, for allowing us to make BTMV a reality,” said Masaaki Tsuya, CEO and Representative Board Member, concurrently Chairman of the Board, Bridgestone Corporation. “BTMV will produce products in line with our corporate philosophy of “Serving Society with Superior Quality”, and will strive to develop our business and contribute to the local community in Vietnam.”
Teruo Kunitake, General Director of BTMV, said “With the support of the local community, BTMV has been growing from strength-to-strength. We now have over 1,100 employees who are mostly Vietnamese and are increasing our manufacturing output on a daily basis. Apart from contributing to Vietnam’s economy, we also plan to drive a better future by supporting the local community and environment in Vietnam.”