February 17, 2021
Sumitomo Rubber Industries, a leading tire maker, announced on February 9, 2021 that it will increase the production capacity of its US plant. The investment amount is 96 million dollars. By the end of 2023, the company will increase its daily production of tires for automobiles and light trucks from 6,500 to 12,000 units. In the North American market, sales of SUVs and light trucks are strong. Sumitomo Rubber Industries aims to increase its production capacity in order to capture the demand of the strong North American market.
The tire maker will also increase the production capacity of tires for trucks and buses. The investment amount is 26 million dollars. By the end of 2024, the company will increase its daily production from 1750 to 2300.
September 2, 2020