CHANGZHOU, China — On Aug. 26, Changzhou Bridgestone Flowtech Co. Ltd. laid the foundation stone for its new plant in Changzhou National High-Tech District, Jiangsu Province. With a total investment of $49.7 million, the new plant, which will mainly produce oil, gas and hydraulic hoses, hose assemblies and rubber mixing products, is expected to be completed in June 2012 and start production in October of the same year.
With its registered capital increased from $3.2 million to $24.3 million, the new plant is jointly invested in by Changzhou Bridgestone Flowtech and Bridgestone (China) Chemical Products Investment.
"Given the strong demand in China, we will try our best to start production ahead of schedule," a senior company official said in the groundbreaking ceremony.
Upon completion, the new project will have an annual production capacity of 12,000 kilometers of air hoses, oil hoses and hydraulic hoses, 7 million hose assemblies and 5,000 tons of rubber mixings, with the annual output value expected to reach 630 million yuan, while profits and taxes are estimated to come to 45 million yuan. In addition, more than 200 new jobs are expected to be offered by 2015.