Bridgestone, the largest tire and rubber company in the world, will build its first facility in Russia.
The company will invest $375 million to build its first tire plant in Russia, which will begin production in about three years. This would be Bridgestone’s 47th plant in the world. The company will build this plant in partnership with Japan’s Mitsubishi, which will hold 10% of the JV. The facility will cover an area of 800,000 square meters and will be located in the Zavolzhye Industrial Zone in the Ulyanovsk region.
The plant will have a production capacity of 12,000 units a day, which is about 4.4 million units annually, and will manufacture mainly winter tires for the increasing demand in the Russian market and the CIS states. The plant is expected to reach full capacity during the second half of 2018 and create around 800 new jobs.
“The fact that we come to the market after our main competitors have already done so, does not weaken our positions: customer confidence in our brand is comparable with or even stronger than in some of our competitors,” Vedomosti daily quotes a Bridgestone spokesperson as saying.