Stapleton’s Owner to Enter Car Making Business

The owner of UK tyre wholesaler Stapleton’s Tyre Services, Itochu Corporation, is reportedly entering into a joint venture with carmaker Suzuki to build a factory in Russia in order to capitalise on the country’s rapidly growing market. The Japanese newspaper Nikkei has claimed that Itochu and Suzuki would be equal owners of the joint venture facility, and would spend a combined 15 billion yen (£62 million) constructing the St Petersburg plant.

The factory will commence operation in 2009 and initially produce 10,000 vehicles based upon the Suzuki Grand Vitara using CKD components from Japan.