THE Yokohama Rubber Co. Ltd. yesterday broke ground for the P3.5-billion expansion of its operations in Clark Freeport Zone.
Yokohama Tire Philippines Inc. (YTPI) , the sole tire manufacturer in the country, will now produce 10 million tires, more than 10 percent higher than the 9 million tires it currently produces.
The new plant is set to be operational by the second quarter of 2026 and will employ another 500 on top of the 3,000 it currently has.
Part of the production will be sold locally, but the bulk will be for export.
YTPI has been operating in Clark since 1996 and has since been providing passenger car radial and recreational vehicle tires throughout the Asia Pacific region, including the Philippines.
Secretary Alfredo Pascual of the Department of Trade and Industry (DTI) in his speech at the groundbreaking ceremonies assured the agency’s assistance to YTPI in sourcing more natural rubber from local producers, mostly in Mindanao. The company currently buys a little more than half of their natural rubber from local growers.
