Bridgestone plans to be No. 1

Japan's Bridgestone said Monday it would invest 11 billion dollars over five years to ramp up production in a battle against France's Michelin to become the world's undisputed top tire-maker.

It said it would spend a total of 1.25 trillion yen covering the five years from April 2008, up 14 percent from the preceding five years.

The new five-year plan targets group sales of four trillion yen in the final year, up 20 percent from the current business year to March 2008, with operating profit jumping by 80 percent.

Bridgestone Corp. plans to put new factories into operation in Mexico, Poland, Hungary and Japan and to expand existing plants in India and Indonesia, although it is concerned about the US economy.

"Our goal is to establish the status of being the undisputed world number one tire and rubber company," chief executive and president Shoshi Arakawa said.

"Tires are a global product, unlike products whose sales can increase through being adapted to local tastes," Arakawa said, promising "large-scale" production. Turkishpress.com