Sumitomo Invests $55 Million at South Africa Plant

Sumitomo Rubber Industries is investing $55 million to start producing truck and bus tires at its South Africa passenger car and light truck tire facility.

The investment in equipment will help the tiremaker meet increasing TBR tire demand in the market. Currently Sumitomo Rubber South Africa supplies imported truck and bus tires to African markets. With the ability to produce truck and bus tires in Africa, SRI said it expects to strengthen tire sales business in Africa and accelerate the pace of its global growth.

In 2014, SRI announced a $66 million investment plan to enhance the plant's production capacity and production quality for high performance tires. By the end of 2015, the plant was producing 10,000 tires per day, SRI said.