Business trend:
Sumitomo Rubber
will build a plant to produce automobile tires in Turkey with an investment of
40 billion yen. The construction will start in 2013, and the plant will go into
operation in 2014 or 2015. This is Sumitomo’s first plant in Turkey. The
company currently exports to Europe and the Middle East from Japan. It will
establish a joint venture company with a Turkish local company. This plan is to
increase the efficiency of logistics besides avoiding the risk caused by high
yen. The Turkish government has been promoting a policy to stimulate
investments from abroad to develop its domestic industry.
Thanks to the
growing demand for automobile tires in foreign countries, Sumitomo’s domestic
plants are operating nearly at full capacity. Sumitomo Rubber is building a
plant in Brazil that is scheduled to go into operation in October 2013.
Bridgestone is already producing tires in Turkey and scheduled to make another
investment, and the Yokohama Rubber has started producing tires in Russia.
Japanese tire makers are expanding their markets to newly industrialized countries
where the car market is growing fast.
Introduction of
Sumitomo Rubbers’ booth
in the Tokyo Motor Show in 2011
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