Sumitomo to Build $516 Million Tire Plant in Turkey
By Ali Berat Meric and Selcan Hacaoglu - Sep 21, 2012 5:43 AM ET
Japan’s Sumitomo Rubber Industries Ltd. (5110), which sells its products under the Dunlop brand, signed a deal with Petlas Lastik Sanayi ve Ticaret AS to build a tire factory in Turkey.
Sumitomo, Japan’s third-largest tiremaker, and Petlas will invest $516 million in the factory in Cankiri, north of Ankara, said Ilker Ayci, chairman of the country’s Investment Support & Promotion Agency.
More:Sumitomo to Build $516 Million Tire Plant in Turkey - Bloomberg