Yokohama Invest In Philippines

Yokohama Rubber has announced that it will invest some 10 billion yen (£50. 9 million) at its Yokohama Tire Philippines subsidiary in a bid to increase its production capacity to 7 million tyres, by September 2006.

According to Japan’s corporate news network JCN the expansion plans have been adopted to meet growing demand from Europe, the Middle East and south east Asia for passenger and sport-utility vehicle tyres.

The expanded production lines are expected to begin operation from October 2005, reports the Japanese news source. The plant makes car and SUV tyres in rim diameters of 13 to 18 inches, and exports about 90 per cent to Europe, Middle East and ASEAN countries.