Sumitomo to build plant in Turkey

Japan’s Nikkei newspaper and various Turkish media sources report Sumitomo Rubber Industries intends to invest 40 billion yen (£315 million) in building a tyre factory in Çankiri, about 90 miles from Turkey’s capital Ankara. Construction on the plant is set to start next year and the first phase will be ready in 2014, with further work completed in 2015. Output from the plant will be sold in Europe and the Middle East. No information on planned production capacity has been given.