Japan's Sumitomo Rubber Industries Ltd. will set up rubber farms in northern Thailand with a local firm to begin production of natural rubber.
Teaming up with Thai Eastern Group, Sumitomo Rubber will establish a farm management company and a natural rubber processing company by the start of next year.
The management company will be capitalized at around 1.08 billion yen (US$12.04 million), with Sumitomo Rubber to take a 49 per cent stake. It will purchase a total of 9.6 million sq. meters of rubber farms in two locations.
Meanwhile, the processing company will have an annual production capacity of 21,600 tons, with operations to begin in 2011. Rubber will be cultivated from 2014.
With plans to debut petroleum-free tires in 2013, Sumitomo Rubber is expanding its lineup of environmentally friendly offerings. It has decided that it must make and process materials on its own to improve its development technology.
(Source: irco.biz)
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