Sumitomo Rubber Industries, Ltd. (SRI) is pleased to announce that, as part of our global expansion strategy, we have made the decision to establish a new production site to manufacture rubber parts for medical applications. The investment amount for the new facility in central Slovenia, a subsidiary of Lonstroff AG in Switzerland, will be 34 million EUR(Approx. 39.8 million USD*1).
SRI has been expanding its business since it acquired Lonstroff AG (subsidiary of Lonstroff Holding AG), which produces and sells rubber parts for pharmaceutical primary packaging and rubber parts for medical applications to major pharmaceutical and medical companies in January of 2015. The start of operation of its Slovenian subsidiary is planned in April of 2019. With this investment our production capacity of primary packaging and rubber parts for medical applications will be tripled compared with 2016 in Europe. This investment is another big step in the expansion of our precision rubber parts for medical application business on a global scale.
Lonstroff Holding AG acquired Lonstroff AG as of June 30 and changed company name to Lonstroff AG and became the mother company of the new facility in Slovenia.