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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Bridgestone Corporation    5108   JP3830800003

BRIDGESTONE CORPORATION

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Bridgestone Corp : Bridgestone to Build a Plant in Mexico for the Manufacture of Polyurethane Foam for Automotive Seats

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10/28/2013 | 03:05am EDT
Bridgestone to Build a Plant in Mexico for the Manufacture of?Polyurethane Foam for Automotive Seats- New facility to meet the rapidly growing demand for automobile production in Mexico -

Tokyo (October 28, 2013) - Bridgestone today announced plans to build a new plant in Celaya City Guanajuato, Mexico that will produce polyurethane foam for automobile seats. The new plant will be Bridgestone's tenth production facility for this product. It will also be the Company's first such plant in Mexico, which will become the fifth country and region of the world where Bridgestone manufactures polyurethane foam for automotive seats.

The new plant will begin production in the first half of 2015, and maximum production capacity is expected to be approximately 360,000 vehicle sets annually. The total investment of the new facility will be approximately ¥1.4 billion, and the plant will be operated by Bridgestone Automotive Products de Mexico S.A. de C.V. (BAMX), a business unit of Bridgestone Corporation.

Mexico is expected to see continued growth in automobile production due to its strategic geographical location and a forecasted increase in domestic demand. Bridgestone chose Celaya City Guanajuato, Mexico for its new plant in order to meet this growing demand.

To meet the growth in automotive demand over the medium to long term, the Bridgestone Group will continue to enhance its global product supply system so the Company can ensure that we can continue to supply our customers with high-quality products in a timely manner.

<Polyurethane Foam for Automotive Seats>

Polyurethane foam for automotive seats, which is a cushion material for use in automobile seats, is created with Bridgestone's advanced resin processing technology. Bridgestone's polyurethane foam reduces automobile vibrations and contributes to improved safety and comfort.


<Overview of BAMX>
1. Company name : Bridgestone Automotive Products de Mexico S.A. de C.V.
2. Ownership : Bridgestone Corporation - 100%
3. Location : Celaya City Guanajuato, Mexico
4. Site area : Approximately 45,000 square meters
5. Products : Automotive polyurethane foam
6. Date of establishment : July 2013
7. Start of production : 1st half of 2015 (planned)
8. Number of employees : Approximately 100 employees (planned for 2017)
9. Production capacity : Approximately foam for 360,000 vehicles / year

About Bridgestone Corporation:
Bridgestone Corporation, headquartered in Tokyo, is the world's largest tire and rubber company. In addition to tires for use in a wide variety of applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Its products are sold in over 150 nations and territories around the world.

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Financials
Sales 2020 3 340 B 30 979 M 30 979 M
Net income 2020 201 B 1 861 M 1 861 M
Net cash 2020 54 268 M 503 M 503 M
P/E ratio 2020 12,5x
Yield 2020 4,33%
Capitalization 2 518 B 23 383 M 23 358 M
EV / Sales 2019
EV / Sales 2020 0,74x
Nbr of Employees 143 589
Free-Float 78,9%
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Mean consensus HOLD
Number of Analysts 13
Average target price 3 668,33 JPY
Last Close Price 3 577,00 JPY
Spread / Highest target 20,2%
Spread / Average Target 2,55%
Spread / Lowest Target -32,9%
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Shuichi Ishibashi Chief Executive Officer
Akihiro Eto President, Chief Operating Officer & Director
Masaaki Tsuya Chairman
Masato Sakano Chief Technology Officer
Scott Trevor Davis Independent Outside Director
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