BANGKOK (Aug. 30, 2016) — Goodyear is planning to add capacity for radial aircraft tires at its car and truck tire plant in Phathumthani, Thailand, in a project valued at $162 million.
The capacity would enhance existing bias-ply aviation tire capacity at the plant, which opened in 1969 and makes car, light truck and medium truck tires. The first phase of the three-phase expansion is targeted to begin operations by 2018, Goodyear Thailand P.C.L. Managing Director Finbarr O'Connor said.
Goodyear did not disclose details of the capacity to be added, but said it expects demand for radial aviation tires to improve as new commercial planes use them as standard because they are lighter than bias tires and more suitable for aircraft landings.
“The world's aviation fleet continues to grow and is projected to double in size over the next 20 years,” Mr. O'Connor said. “The fastest growth is seen in the Asia Pacific region. With this expansion, Goodyear, a global leader in aviation tires, will be ideally positioned to capture this growth in demand for radial tires.”
The expansion is expected to create 100 new jobs at the plant, where employment is 1,000-plus.
Ernst & Young Corporate Services Ltd is the financial adviser for the project.