Sumitomo to expand Asian tire capacity

KOBE, Japan (May 21)—Sumitomo Rubber Industries Ltd. will invest $285 million over two years to expand tire production capacity in Asia, with about two-thirds of the sum going to the Kobe-based group's plants in Japan. The expansions will support a planned 30-percent rise in output of sport-utility vehicle tires, as well as 15- and 10-percent increases, respectively, in car and truck/bus tire production, a spokesman said. Further details were unavailable. Outside of Japan, Sumitomo operates a factory in Indonesia and is building one in China.