Sumitomo to Invest $322 Million in Brazilian Plant, Estado Says

Sumitomo Rubber Industries Ltd., a Japanese maker of automobile and motorcycle tires, plans to invest 560 million reais ($322 million) in a factory in the Brazilian southern state of Parana, O Estado de S. Paulo reported.

The plant will be ready in 2013 and will produce as many as 15,000 tires per day, the newspaper said, citing company executives Ikuji Ikeda and Ippei Oda, and Parana Governor Beto Richa. The facility will generate 1,500 jobs by 2017, Estado said.

To contact the reporter on this story: Telma Marotto in Sao Paulo at tmarotto1@bloomberg.net.

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net.

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