Industry News
Tire project investments reach ten billion dollars
Recent financial reports released by tire companies showed that the vehicular tire sector still enjoyed a large increase in sales volume and profits, even though many negative factors affected the global economy in 2011. Tire giants remain optimistic about prospects for project investments. Investment projections for 2012 are estimated at ten billion dollars.

French tire maker, Michelin, intends to invest one billion euros ($1.31 billion) within five years and implement greater competitiveness in production and operations. Goodyear Tire and Rubber plans to invest $1 billion in upgrading its factories in Chile, the United States, Brazil, Germany and China to increase the output of high-performance tires.

Bridgestone Corporation will invest 1.2 billion dollars in the US in the next two years. Its projects include building a new meridian tire factory in Aiken, South Carolina and expanding existing car tire and steel curtain factories. Yokohama Tire Co plans to invest 600 million dollars in the next seven years to increase annual output of the Philippines car tire factory to 17 million units, doubling previous annual output. ToyoTire and Rubber Co plans to invest 260 million dollars in the next three to four years to build a riding tire and light truck tire factory near the Silverstone Tire and Rubber Co in Malaysia. Other tire projects are going to be built around the world, particularly in China and India.

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