Sumitomo to Build $516 Million Tire Plant in Turkey
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Japan’s Sumitomo Rubber Industries Ltd., which sells its products under the Dunlop brand, signed a deal with Petlas Lastik Sanayi ve Ticaret AS to build a tire factory in Turkey.
Sumitomo, Japan’s third-largest tiremaker, and Petlas will invest $516 million in the factory in Cankiri, north of Ankara, said Ilker Ayci, chairman of the country’s Investment Support & Promotion Agency.