Bridgestone Corp to invest $11 bn over 5 years

TOKYO: Bridgestone Corp, Japan’s largest tyre maker, will invest 1.3 trillion yen ($11 billion) over five years from 2008 to boost output around the world to meet increasing demand, the Nikkei newspaper said on Saturday.

The investment, part of a mid-term business plan, would be 20% more than what it invested in the previous five-year period and would be spent to ramp up tyre production in areas such as India and Eastern Europe, the paper said.

The company, which competes with Goodyear Tire & Rubber and Michelin will aim for group sales of 4 trillion yen in 2012, up 34% from 2006. Bridgestone is due to announce a mid-term plan on Monday and was unavailable for comment.