Bridgestone Corp. says its wholly owned Bridgestone Europe NV/SA subsidiary will build a tire plant in Hungary. Construction of the plant will begin in 2006.
The company says plans call for production to begin in 2008. Capacity at the plant is expected to reach about 8,000 tires a day in the first half of 2009.
Bridgestone has earmarked 190 million euros (approximately $150 million) for investment in the project. The plant will produce radial passenger and light truck tires, and will be the first European plant to feature Bridgestone's revolutionary new BIRD (Bridgestone Innovative and Rational Development) production system.
The Hungarian plant will serve the growing demand for high-performance and large rim size tires for passenger cars in Europe, as well as increasing the group's overall supply capacity there, adds the company.
When the Hungarian plant begins operation, the Bridgestone Group will have 51 tire plants in 24 countries. That includes three plants that have yet to be completed in Mexico, Brazil and China.
The Hungarian plant will be Bridgestone's second tire plant in central Europe; the other is in Poznan, Poland.
