KOBE, Japan (Sept. 24, 2012)—Sumitomo Rubber Industries Ltd. and the parent of Turkish tire maker Petlas Tyre Industry & Trade Co. are planning to build a $500 million passenger and light truck tire factory in Turkey.
The joint venture of the Japanese company and Abdulkadir Ozcan Otomotiv Lastik is expected to complete construction of the plant by July 2015 in Cankiri, in north-central Turkey, close to Ankara.
Sumitomo said the venture will be a strategic base for both production and sales of tires bound for the Middle East, North Africa and Russia, where the tire maker anticipates continued market growth, as well as for markets in Europe. The new site will enable the firm to have improved lead times and transportation costs and put it in an advantageous position to serve Japanese-owned vehicle makers that have assembly operations in Turkey.
The plant will have a daily capacity of 30,000 tires by year-end 2019, and employ about 2,000, Sumitomo said.
Abdulkadir Ozcan Otomotiv is the Turkish importer/distributor of Toyo-, Hankook- and Maxxis-brand tires. The company was founded by the Ozcan family in Ankara in 1970, and also is involved with other products used in the automotive sector, such as batteries, chains and rims. The firm reports annual sales of $444 million.