CURITIBA, Brazil—Sumitomo Rubber Industries (SRI) will invest $213 million in its tire factory in Fazenda Rio Grande, Brazil, the regional government announced.
Confirmation of the investment, it said, followed a recent trade mission by Parana state officials to Japan and South Korea, organized by inward investment agency Invest Paraná.
Established in 2013, the 1,500-employee plant has a listed capacity of 2,500 metric tons per month for Dunlop brand passenger car, light truck and truck/bus tires.
SRI's investment should generate 1,000 direct and indirect jobs and increase global sales for the Paraná plant, according to an April 13 announcement by Parana State News Agency
SRI, it noted, supplies tires to Toyota, VW, Honda and Iveco in Brazil and elsewhere to Nissan, Ford, Subaru, Audi, Porsche, Mitsubishi and Mercedes-Benz.