Sumitomo breaks ground on Turkish tire plant
On September 18, Sumitomo Rubber Industries Ltd. broke ground on its new $500 million tire plant factory in Cankiri Province, Turkey. Sumitomo owns 80% of the joint venture plant, with the remaining 20% held by Abdulkadir Ozcan Lastik Sanayi ve Ticaret A.S., a leading Turkish tire distributor and tiremaker (through Petlas Tire Industry and Trade Co.). The plant will produce radial light truck and passenger car tires with startup scheduled for July 2015 and rampup through late 2019. Capacity will reach 30,000 tires/day by 2019. The company is known as Sumitomo Rubber AKO Lastik Sanayi ve Ticaret A.S. (SAT).