KOBE, Japan (Dec. 26)—Sumitomo Rubber Industries Ltd. plans to set up a tire plant in Jiangsu, China, with production to start by 2004 and reach daily capacity of 5,000 passenger tires by 2006. Sumitomo, the maker and marketer of Dunlop-brand tires in Japan and selected Asian markets, will spend $55 million to set up the plant. Sumitomo did not say whether it would have a Chinese partner for the venture, but is expected to invite an unnamed Taiwanese tire maker to be a minority partner. Sumitomo, which has a global sales and manufacturing agreement with Goodyear, has a technology supply agreement with Taiwan's Hwa Fong Rubber Industry Co. Ltd.
Sumitomo to set up tire plant in China
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