SINGAPOREAN tyre and wheel distributor Stamford Tyres has set up a joint venture with Japan-based Sumitomo Rubber Asia, a subsidiary of Sumitomo Rubber Industries, to form Falken Tyre India (FTI). The S$12.3 million joint venture firm will supply Falken tyres to India’s flourishing replacement tyre market.
Stakeholders Sumitomo (60%) and Stamford (40%) will set up FTI’s headquarters in India and will start up operations from 2013, utilising Sumitomo’s proprietary tyre technologies and Stamford’s distribution capability.
At present, Stamford distributes Falken tyres in Singapore, Malaysia, Thailand, Indonesia and South Africa.
In other news, Sumitomo Rubber has broken ground on its newest Thai factory, which is currently under construction in Amata City Industrial Estate in Rayong Province. The 10 billion yen factory will be Sumitomo Rubber’s first overseas factory to produce tyres for use in agricultural equipment. Production capacity will be around 50,000 tyres/month by the end of 2017. Production is scheduled to begin in 2014.
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