Bridgestone buys company TOKYO—Bridgestone Corp. is expanding tire operations in New Zealand, Indonesia and Thailand to meet growing demand overseas, particularly in Southeast Asia.
The Tokyo-based company has purchased a 100-percent stake in Bridgestone New Zealand for an undisclosed amount. The purchase will allow the tire maker to respond to the country's local demand and also to promote its domestic sales, Bridgestone said.
The tire maker also is investing about $22 million at plants in Indonesia and Thailand, which will quadruple its current tire capacity in those two countries by 2002, the company said.
Icollantes boosting quality
CALI, Colombia—Colombian tire maker Industria Colombiana de Llantas S.A., commonly known as Icollantes, is expanding and modernizing its Lima, Peru, plant to improve product quality.
The project is part of a $60 million investment program begun in 1995 in which Icollantes aims to boost tire standards to international levels and increase production capacity by 10 percent, said Hugo Espinosa, president and CEO.