Sumitomo begins construction on Turkey plant
Sumitomo Rubber Industries Ltd. recently held a groundbreaking ceremony for its first tire factory in the Republic of Turkey.
The radial passenger tire plant is a joint venture between Sumitomo and Abdulkadir Ozcan Lastik Sanayi ve Ticaret A.S. It will be run as a subsidiary under the name Sumitomo Rubber AKO Lastik Sanayi ve Ticaret A.S. (SAT).
Fifty people took part in the ceremony, held at the factory's planned construction site in an industrial complex in Cankiri Province. They included:
* President Ikuji Ikeda of Sumitomo Rubber Industries;
* President Norifumi Fujimoto of SAT;
* Chairman Mustafa Ozcan of Abdulkadir Ozcan.
Turkey, with its steady economic growth, is not only a market with a growing demand for automobile tires,but also features the geographical advantage of being strategically located near to markets in Europe,the Middle East,North Africa and Russia,” says Sumitomo Rubber.
“With the planned start of production at our new Turkey factory in July of 2015, the Sumitomo Rubber Group will strengthen our supply system for Turkey and other nearby markets, and so take another big step in the expansion of our tire business on a global scale.”
Sumitomo will own 80% of the $500 million, 10.7 million-square-foot radial tire plant, and Abdulkadir Ozcan Lastik 20%. Production is expected to start in July 2015. Sumitomo says the facility will reach full capacity – 30,000 tires a day – by late 2019.