Japanese tire maker loses $50M in Clark fire

CLARK FREEPORT—Yokohama Tire Philippines Inc. (YTPI) placed at $50 million the initial damage from the three-hour fire that gutted its warehouse here on Sunday. Angelina Casasola, YTPI vice president for administration, said the amount included 90,000 newly manufactured tires as well as equipment and the warehouse at its plant here. No one was reported hurt in the fire. As of Tuesday, more than 200 of 2,000 employees were called back to work for a massive cleanup. A team from the Bureau of Fire Protection arrived here on Tuesday to start its investigation. Clark Development Corp. mobilized more than 30 firetrucks from companies and local governments in Pampanga, Zambales and Tarlac provinces to put out the fire. —TONETTE OREJAS