MEXICO CITY (July 19, 2016) — Yokohama Rubber Co. Ltd. (YRC) expects to announce later this year where it will build a new consumer tire plant in North America — in the U.S. or Mexico.
“I expect a decision sometime this year,” Humberto Gómez, managing director of Yokohama Tire Mexico S. de R.L. de C.V. (YTMX), told Tire Business recently in a phone interview.
Mr. Gómez said YRC already has decided to increase its production capacity in the North American Free Trade Agreement region. The new factory will be built either in the U.S. or Mexico, he confirmed in a telephone interview.
- This story appeared in the July 4 print edition of Tire Business.
“The (vehicle manufacturing) OEMs are the trigger,” he added, referring to a 2006 YRC plan — or “road map” — to double Yokohama's original equipment sales globally by 2020.
Mexico — where a dozen major light vehicle companies either have assembly plants or are in the process of building one — is under consideration for the new plant because it's on target to be assembling 5 million cars a year by the end of the decade. The country is the world's seventh largest auto producer.