As we speculated yesterday on Biz Buzz, the tire company headed to Clay County would be Yokohama Tire Co..
Tire Review posted a story morning, confirming it is indeed the Japanese tire maker. Yokohama Rubber Co., the parent of Yokohama Tire, also confirmed the news in this statement.
From Tire Review:
In the end, Yokohama Rubber Co. was the unnamed mystery “Japanese tire company” looking to build a plant in Mississippi.
The Tokyo-based YRC announced this morning that it would build a radial truck and bus tire plant on a 500-acre site near West Point, Miss., pending legislative approval of a host of financial incentives.
That approval is expected later today.
YRC’s proposed $300 million tire plant will have an annual capacity of one million tires. This will be “Phase I of Yokohama’s overall plan for the site. Potential expansions could increase the original business size up to four times or so in scale in accordance with future business growth.”
YRC said it expects to begin construction this September, with production beginning in October 2015.
Currently, Yokohama Tire Corp.’s truck/bus tire needs have been serviced by YRC plants in Japan and Thailand, as well as its allocation from GTY Tire Co., the joint venture truck tire plant located at Continental Tire the America’s plant in Mt. Vernon, Ill.