Sumitomo Forms Two Natural Rubber JVs in Thailand

Sumitomo Rubber Industries has announced its intention to establish two joint venture companies in Thailand, together with Thai Eastern Group. One of these joint venture companies will center on a natural rubber plantation, while the other will focus on setting up a natural rubber processing plant.

The joint venture natural rubber plantation, to be known as Sumirubber Thai Eastern Plantation, is being established this month and operations will start in 2014. Investment in the site stands at 400 million baht (£7.4 million), and Sumitomo will hold a 49% share in the venture. Sumitomo will hold a 70% stake in the 200 million baht (£3.7 million) natural rubber processing venture, which will be named Sumirubber Thai Eastern Corp. This will be established by February 2010, with operations commencing in 2011. Approximately 140 staff will be employed in the operation.

The main purposes of the establishment of these joint venture companies are to stabilize the quality and procurement of natural rubber to facilitate the technological development of eco-tires and to alleviate potential risks that may occur due to fluctuations in natural rubber prices. Through the establishment of these joint venture companies, Sumitomo Rubber says its research and development activities to enhance the performance of its fossil-free and high fuel-efficient tires will be ramped up. (Tyres & Accessories)

GRI recently conducted programs in Sri Lanka to empower women and motivate children under its Green x Circle initiative. The company said these endeavors aimed to address the needs of the community, focusing on both women empowerment and youth motivation.

GRI recently organized a training program titled "Management of household finance under current economic conditions" at the Ingiriya Rubber Collecting Center in Sri Lanka, South Asia led by Shashika Nimali, an NLP practitioner and life coach. The company said this initiative provided women in the industry with essential skills and knowledge to effectively manage household finances. GRI's tailored training sessions equipped participants with tools for informed decision-making, ultimately fostering greater financial security and independence, the company said.