Bridgestone Americas Inc. announced today that it plans to make a second investment in its Des Moines operation to maintain its "leadership position" in the agricultural tire industry.
In March 2010, Bridgestone initially invested $77 million in the Des Moines operation, and it now plans to invest an additional $74 million.
"Enhancements to the Des Moines facility will allow us to grow our market position, develop advanced solutions and deliver the most innovative tire technology available to the agricultural industry," said Ken Allen, president of Bridgestone's agricultural tire division, in a release.
With an increased demand for agricultural tires, the investment in its Des Moines factory will allow it to expand tire building and curing as well as purchase more equipment, according to a release. Improvements to the factory, which employs 1,673 people, are expected to be completed sometime in 2013.
The Des Moines facility manufactures tires that are large enough to perform farm tasks efficiently, but also reduce ground compaction, according to a release. Agricultural tires were first introduced in the 1930s by Harvey Firestone, and today the Firestone brand is one of the biggest competitors in radial tires.
To read a Business Record story about Bridgestone's initial $77 million investment,click here.