Encountering Value
Outside of the medium truck tire realm, the Sumitomo brand and independent tire dealers have not enjoyed a close relationship. Often associated with Sears Auto Centers (not any longer), judging by the results in the most recent Tire Review Tire Brands Study, dealers don’t see a lot in Sumitomo consumer tires; they rated near the
Sumitomo Opens Turkey Plant
Sumitomo Rubber Industries’ tire factory in Turkey was inaugurated by the president of Turkey, Recep Tayyip Erdogan, Balkans.com reports. The $520 million plant was built in partnership with Abdülkadir Ozcan A.S (AKO) and the tiremaker plans to manufacture 10 million tires per year. The plant will employ 2,000 people and is expected to export 80%
Goodyear, SRI Divorce Final
The Goodyear Tire & Rubber Co. has officially dissolved its global alliance with Sumitomo Rubber Industries. “This successful resolution enhances our flexibility to grow profitably as we focus on delivering strong performance and sustainable economic value,” said Richard Kramer, Goodyear chairman, CEO and president. “Despite current challenges in the global economy, the long-term growth prospects
Sumitomo Upping Thai Plant Output
Sumitomo Rubber Industries is planning to increase its tire production by 9% at its Rayong Province plant in Thailand, according to Asian Review. In June, Sumitomo severed business ties with Goodyear Tire & Rubber Co. over the Dunlop brand, giving the Japanese tiremaker more freedom to develop American and European markets. By increasing its production
TBC Unveils Mirada Sport GT2 Lineup
TBC Brands has introduced the all-season performance Mirada Sport GT2 line. Engineered and manufactured by Sumitomo Rubber Industries, the Mirada Sport GT2 line, offered exclusively by TBC Brands, will replace the long-running Mirada GTX Sport and provide consumers with a high-quality, year-round performance product featuring precision Sumitomo technology at an affordable price, according to TBC.
The Evolving Tire Landscape
Thirty years ago it was a much different world. Fax machines had just become a thing. There was no Internet, no such thing as a cellphone let alone a smart one, and the first PCs were appearing in offices. In the tire universe, we were still busy radializing consumer and truck tires; OTR and agricultural
SRI Sees Drop in Earnings for First Half
Sumitomo Rubber Industries (SRI) reported drops in operating and net income during the first half of 2015, stating that price/mix and foreign exchange offset gains in lower materials costs. Operating income decreased 16.6% to $243.4 millon, while net earnings were down 8.4% to $166.4 million. Total sales were up 2.7% to $3.24 billion. The company’s
Divorce Final: Goodyear Announces SRI Joint Venture Breakup Terms
As was first reported by Tire Review on June 1, Goodyear Tire & Rubber Co. early this morning formally announced the dissolution of its business partnership with Sumitomo Rubber Industries Ltd. And the dissolution agreement gives Goodyear the exclusive rights to continue marketing and selling Dunlop consumer and commercial truck tires across North America. Over
Falken Expands Management Team
Falken Tire Corp. has made several changes to its senior management team. Fumikazu Yamashita was promoted to vice president of technical services. Yamashita has been with Falken’s parent company, Sumitomo Rubber Industries (SRI), for more than 30 years. In his new position he will be responsible for technical services and quality assurance testing, product development
SRI Named Most Innovative Company by Reuters
Sumitomo Rubber Industries was included on Thomson Reuters’ 2014 Top 100 Global Innovators list, released on Nov. 6. Reuters noted that its top 100 most innovative companies achieved nearly double the 6.85% annual revenue growth rate of S&P 500 firms while increasing their R&D budgets by an average of 17% year-over-year. This marks the second
Sumitomo’s Brazil Factory Meets Environmental, Safety Standards
The Sumitomo Rubber Group’s tire factory in Fazenda Rio Grande, Brazil has been awarded both the ISO 14001 Environmental Management System Standard and the OHSAS 18001 Occupational Health and Safety Standard, Tyres & Accessories reported. With its most recent certification, Sumitomo has obtained ISO 14001 certification for 31 of its facilities. This is also the
Sumitomo to Invest in South African Factory
Sumitomo Rubber Industries will invest $100 million in its South African factory, the Asian Review reports. The tiremaker will expand on its facility in the KwaZulu-Natal province, which was purchased from Apollo Tyres in 2013. Currently the site produces 9,600 tires a day, but Sumitomo plans to increase daily output to 12,200 tires in 2016