Sumitomo Rubber to Establish a Joint Venture In Turkey

Post date:
Friday, September 21, 2012 - 17:09
Country:
Turkey
Sumitomo Rubber to Establish a Joint Venture In Turkey

Today, Japanese tire maker Sumitomo Rubber Industries signed a joint venture agreement with our Turkish partner, Abdulkadir Özcan Otomotiv Lastik (AKO). The new company is to be established in October of 2012 and is scheduled to begin production by July of 2015.

Sumitomo Rubber Group is expecting a significant increase in tire sales in emerging markets, such as the Middle East, North Africa, and Russia, and believes that supplying tires from Turkey, which is nearer to these markets in addition to Europe, will enable the company to reap enormous benefits in terms of lead times and transportation costs. In addition, with Japanese-owned automobile makers also expected to increase production in Turkey, Sumitomo Rubber looks forward to increased sales of both OE and replacement tires in the Turkish market.

The company's new JV will serve as a strategic base for both production and sales of tires bound for the Middle East, North Africa and Russia