Yokohama embarks in P3.5B Clark expansion

CLARK FREEPORT — Yokohama Rubber Co., Ltd. (YRC) is set to invest P3.5 billion in its expansion project inside the Clark Freeport Zone

The expansion, announced during the meeting between Clark Development
Corporation (CDC) and officials of the Yokohama Tire Philippines, Inc. (YTPl) on January 25, will boost daily
tire output to 32,500, adding 1,800 tires per day.

CDC President and CEO Atty. Agnes VST Devanadera, expressed optimism for
the venture, underscoring Clark’s reputation as a preferred investment

“CDC remains steadfast in its commitment to ease of doing business
conducive to growth and innovation. Our collective efforts have
solidified Clark’s standing as a premier investment destination.
Moreover, we welcome YTPI’s decision to expand within our vibrant
Freeport,” Atty. Devanadera said.

The plan includes a new production line for 21- and 22-inch tires, per
YRC’s recent news release.

“Expansion work is set to commence in the second quarter of 2024, and
the new lines are expected to be fully operational from the second
quarter of 2026, when YTPI marks its 30th founding anniversary,”
according to YRC’s news release.

As of December 31, 2023, CDC’s Investment Promotions Division reported
that YTPI ranks as the second-highest exporter with US $387.43 million
and stands among the top six (6) employers, employing 3,901 individuals
in this Freeport.

Since its establishment in April 1996, YTPl specializes in producing
13–20-inch tires for global export, with the majority shipped to
Europe, North America, and the ASEAN region for use as replacement

The expansion aims to enhance YRC’s responsiveness to global tire
demand, strengthening YTPl’s earnings through increased production of
high-value-added, large-sized tires, per YRC’s news release.

YRC’s consumer tire business focuses on boosting sales of
high-value-added Yokohama tires, including the ADVAN and Geolandar
brands, by strengthening tire development, production, supply, and sales
operations in each region.

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