JV between Stamford Tyres and Sumitomo in China

Singapore-based Stamford Tyres is entering into a joint venture with Sumitomo Rubber Industries to produce passenger car radials in a new factory in China, being built by SRI. SRI will hold 60 per cent of the JV. The factory should begin production in the first quarter of next year and will eventually have an annual capacity of three million units, destined for both domestic and export markets.