Yokohama to lease extra space in Philippines

ERJ staff report (DS)

Tokyo - The Yokohama Rubber Co., Ltd., announced today that it signed a contract with Clark Development Corporation(CDC) on February 12, 2011 to lease a land of 300,000 square meters adjacent to the plant of Yokohama Tire Philippines Inc.(YTPI), a company for the manufacture and sale of passenger-car tires. Yokohama Rubber plans to invest a total of 50 billion yen to increase YTPI's yearly production capacity from current 7 million to 17 million tires, an increase of 2.4 times.

YTPI was formed in 1996 as a base for manufacturing passenger-car tires for export markets. At present the company manufactures passenger-car and SUV tires with the inner diameters of 13 to 18 inches and exports most of the tires to Europe, North America and ASEAN Countries as consumer products and the rest to North American and Asian automotive manufacturers on an OEM basis. YTPI is the first international company entering the Clark Freeport Zone. Highly evaluated for its contribution to local economy, society and environmental protection, the company received Outstanding Recognition for Overall Performance Award from CDC consecutively in 2009 and 2010.

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Press release from Yokohama