Sumitomo-Stamford JV a potential prelude to further collaboration
Stamford Tyres Corporation and Sumitomo Rubber Industries have commented further on their plans to set up a joint venture sales company in India. Yasutaka Ii, director and senior executive officer of Sumitomo Rubber, said “India is a market with huge potential. We are delighted to continue our partnership with Stamford Tyres which has a strong distribution track record, as part of our group’s expansion into new markets. This new joint venture will allow the two companies to leverage on their expertise to address the needs in the Indian market and tap onto this market’s huge potential.”
“At present, Stamford Tyres distributes Falken tyres in markets such as Singapore, Malaysia, Thailand, Indonesia and South Africa,” added Wee Kok Wah, president of Stamford Tyres. “This JV is another major milestone for Stamford Tyres and signifies the next step in our long-standing relationship with Sumitomo. Together, we are confident that our entry into the Indian replacement tyre market will generate long-term growth for both companies and possibly open up more opportunities for collaboration in the future.”
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