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Article: 12 tire plants opened in past year.(News)
- Article from:
- Tire Business
- Article date:
- August 31, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bruce Davis
Despite the global economic slowdown that started last fall, the tire industry opened 12 greenfield tire plants in the past 12 months, representing more than $1.5 billion in investments and about 15 million units of new annual capacity. Half of the dozen new plants are in China.
In addition, there are at least six more new plants under construction and slated to start production in 2010 or early 2011.
The worldwide economic malaise has affected the industry, though, in the form of plant closingsat least five in the past 12 months and eight more on tapand project cancellations or delays.
Bridgestone Corp. was ...