Sumitomo USA factory closure moves production capacity overseas – reports

Following the news that Sumitomo Rubber USA is closing its Buffalo, New York state tyre factory, further details have emerged relating to the context of the closure. Arguably the most headline-grabbing news is the suggestion that the factory has been closed in order to move production “overseas” and therefore outside the USA, according to local news reports. Furthermore, prior to the closure, Sumitomo reportedly sought to sell the tyre plant. However, no buyers emerged, leaving closure as the only option.