Bridgestone, the multinational auto and truck parts manufacturer said Friday that it will invest EUR120 million ($148.57 million) to increase production capacity of truck and bus radial tires in Poland.
The planned expansion at Bridgestone Stargard Sp.zo.o will increase the plant’s production capacity by 56 percent to approximately 1,350 tires per day, bringing the plant’s capacity to approximately 3,750 tires per day.
The Japanese giant said the expansion is expected to be complete during the second half of 2014.
Back in February, Bridgestone said it expects net profit to soar more than 60% this year, despite the impact of the strong yen and high material costs on the company’s dismal October-December earnings.
The company reported a 34.7% rise in net profit to Y42.2 billion for the January-March quarter, as solid sales in emerging markets offset the yen’s strength and high raw materials prices.
Bridgestone Corporation is the world’s largest tire and rubber company.