TOKYO (Nov. 10)—Sumitomo Rubber Industries Ltd. has increased its ownership of Ohtsu Tire & Rubber Co. Ltd. to 51 percent, making Ohtsu a majority owned subsidiary. Sumitomo paid about $25 million for a block of shares equal to 9.9 percent of Ohtsu´s outstanding stock. Sumitomo previously owned 41.1 percent of Ohtsu, and has been Ohtsu´s technical assistance partner for decades. Ohtsu has been an integral part of Sumitomo´s manufacturing network for years, making Dunlop-brand tires for Sumitomo.
Sumitomo hikes ownership in Ohtsu Tire
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