Bridgestone to close Port Elizabeth, South Africa bias agri tyre plant
Bridgestone Southern Africa (BSAF) has announced that it will close its bias tyre manufacturing plant in Port Elizabeth, a decision affecting 252 employees. The move is in line with the company’s plans to focus on premium profitable growth segments. The Port Elizabeth plant is geared towards the production of older bias tyres, which are globally in decline and being phased out in South Africa, due to their unprofitability. BSAF is also feeling the effects of a shrinking economy and an influx of cheap imports, leading to its operational restructuring plan. It added that the conversion of the plant to produce radial tyres would require a multi-billion-rand investment, which it deemed unfeasible in the current economy.