Yokohama Rubber Company, Limited, the tire maker based in Tokyo, Japan plans to build a new 4.4 billion yen ($53 million) factory in the state of Haryana adjacent to Delhi, India.
Preparations for the plant began four years ago; in April 2008, Yokohama Rubber signed a contract with the Haryana State Industrial and Infrastructure Development Corporation to acquire a 25-acre site, however plant construction was postponed due to the recession.
The company plans to begin operating the plant at an annual production capacity of 700,000 tires from July 2014.
Yokohama posted net income of 11.6 billion yen on operating income of 26.3 billion yen and net sales of 465.1 billion yen in the nine-month fiscal period.
Sales in Yokohama’s tire operations totaled 379.2 billion yen, 1.9% higher than the company’s November projection, and operating income totaled 23.4 billion yen, 33.5% higher than the November projection.