Japan-based global tyre and rubber company Sumitomo Rubber Industries, Ltd. (SRI) is expanding its global presence with the establishment of a new production facility in central Slovenia that will manufacture rubber parts for medical applications.
The investment amount for the new facility, a subsidiary of Lonstroff AG in Switzerland, will be EUR34 million (around US$39.8 million).
SRI has been expanding its business since it acquired Lonstroff AG (subsidiary of Lonstroff Holding AG), which produces and sells rubber parts for pharmaceutical primary packaging and rubber parts for medical applications to major pharmaceutical and medical companies in January of 2015.
The start of operation of its Slovenian subsidiary is planned in April 2019. With the investment, SRI’s production capacity of primary packaging and rubber parts for medical applications will be tripled compared with 2016 in Europe. The company also sees the investment as another big step in the expansion of its precision rubber parts for medical application business on a global scale.
Lonstroff Holding AG acquired Lonstroff AG as of June 30 and changed company name to Lonstroff AG and became the mother company of the new facility in Slovenia.