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Bridgestone to Build New Plant in Japan for Diversified Products

16 July 1998

Bridgestone to Build New Plant in Japan for Diversified Products; Plant will be in Shizuoka Prefecture and Will Make High-Performance Films and Precision Rubber and Plastic Components

    NASHVILLE, Tenn.--(AutomotiveWire)--July 16, 1998--Bridgestone Corporation announced today that it will invest more than Yen 10 billion (about $70 million) in a new Japanese plant for diversified products. The plant, scheduled to open in spring 2000, will serve rapidly growing demand for high-performance films and for precision components of rubber and plastics. Construction work on the plant will begin in spring 1999.
    The new plant will be Bridgestone's 13th plant in Japan and the company's 4th Japanese plant for non-tire products. Diversification is a strategic priority for Bridgestone, which has established footholds in construction materials, civil engineering materials, precision materials for office equipment, and automotive components, among other products. Management is counting on the high-performance films and rubber and plastic components produced at the new plant to contribute greatly to expanding business in non-tire markets.

Outline of the Plant

1. Location Iwata Hokubu Industrial Park

    Sagisaka, Iwata City, Shizuoka Prefecture

2. Area Site 17.3 hectares (42.9 acres)

    Buildings 1.8 hectares (4.5 acres)

3. Products High-performance films

    Precision rubber and plastic components

4. Start of Construction Spring 1999

5. Completion Spring 2000

6. Employees About 130

7. Investment More than Yen 10 billion (about $70 million)

    Bridgestone Corporation, headquartered in Tokyo, is a leader among the world's tire companies, producing a complete line of tires which account for 78 percent of its sales worldwide. It also manufactures a wide range of diversified products which include industrial rubber and chemical products, sporting goods and others. These products are sold in more than 150 nations and territories around the world.
    Bridgestone is the parent company of Bridgestone/Firestone headquartered in Nashville, Tennessee. Bridgestone/Firestone develops, manufactures, and markets Bridgestone, Firestone, Dayton and private-brand tires. The company also produces Firestone air springs, roofing materials, synthetic rubber, and industrial fibers and textiles.