Defining the News
Yokohama Tire Philippines Inc. bares plans to step up local sourcing of natural rubber to 100 percent by 2026 from 54 percent at present, increasing the company’s domestic rubber sourcing to almost P1 billion.
“From 1 million tires when they started, they are now producing over 9 million tires. And with the expansion, they will be producing more than 10 million tires. Part of that is going to be sold locally, but the bulk will be for the export market, which is also very good for the country. But for this to be meaningful, we want local raw material sourcing to be done by Yokohama,” Pascual said during the groundbreaking of the expansion project in Clark Freeport Zone Monday.
The expansion is expected to add 500 jobs, bringing total employment to 3,500, improve YTPI’s production capacity by 5 percent and strengthen the company’s position as a leading player in the tire manufacturing sector.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Ford Everest, Ranger major facelifts expected by 2026What can we expect?
Read more »
Inflation seen staying within target to 2026INFLATION will likely remain within the 2.0- to 4.0-percent target range over the next two years amid continued upside risks, analysts polled by the Bangko Sentral ng Pilipinas (BSP) said.
Read more »
Report: Next-gen Toyota Corolla coming 2026; Might use BYD techAbout time, we say
Read more »
NIA: Capiz mega dam construction to start in 2026ILOILO CITY – After this week’s inauguration of the mega dam project in Iloilo province, the National Irrigation Administration (NIA) might also start construction of the mega dam project in neighboring Capiz province by 2026.
Read more »
Audi joins forces with BP, Castrol for 2026Audi partners with BP as oil and fuel sponsor for 2026 F1 entry
Read more »
Alberto Fujimori to stand in 2026 Peru electionsLima — Former Peruvian president Alberto Fujimori -- aging and legally embattled -- will stand in the South American country's 2026 elections, his daughter announced Sunday.
Read more »