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Opening Ceremony Held at Sumitomo Rubber's New Factory in Turkey
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Sumitomo Rubber Industries, Ltd. (SRI) is pleased to announce that an opening ceremony was held for our group's first tire factory in the Republic of Turkey, incorporated as Sumitomo Rubber AKO Lastik Sanayi ve Ticaret A.S. (SAT for short), this past Wednesday, October 14 on the new factory's grounds located in Cankiri Province. For this special occasion, SRI's President Ikeda and SAT's President Fujimoto were joined at the opening ceremony by an audience of around 1,200 local guests, including such distinguished guests as President Erdogan and other representatives of the national government, Ambassador Yutaka Yokoi of the Japanese Embassy to Turkey, Director-General Arda Ermut of the Investment Support and Promotion Agency of Turkey, Governor Vahdettin Ozcan of Cankiri Province, Chairman Mustafa Ozcan of SRI's joint-venture partner in Turkey, Abdulkadir Ozcan Lastik Sanayi ve Ticaret A.S., and many others.
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| Speech by Turkey's President Erdogan | | Speech by SRI's President Ikeda |
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| In his speech at the opening ceremony, President Erdogan pledged that Turkey would "spare no effort in supporting our Japanese friends" and expressed his hope that the two countries "would grow and develop side by side." Meanwhile, SRI's President Ikeda spoke of his desire to "contribute to the economic development of the nation of Turkey while preserving and cultivating the shared historical bonds that tie Turkey and Japan together." Further, Director-General Arda Ermut of the Investment Support and Promotion Agency of Turkey, an important figure who had played a vital role in launching and coordinating this project, said, "This project is a great source of pride to us and to all of Turkey."
At present, against a backdrop of steady economic growth in Turkey, there is growing demand for automobile tires in the Turkish market, while Turkey also enjoys the geographical benefits of being in close proximity to markets in Europe, the Middle East, North Africa and Russia. With the full-fledged operation of our new Turkey Factory, the Sumitomo Rubber Group will enhance our supply network for Turkey and nearby markets as we endeavor to further grow and develop our global tire business. | |  |
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| Tape Cutting Ceremony |
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| <Turkey Factory Outline> |
| | Company Name | : | Sumitomo Rubber AKO Lastik Sanayi ve Ticaret A.S. |
| Representative | : | Norifumi Fujimoto |
| Location | : | Cankiri Province, Turkey |
| Establishment | : | February 2013 |
| Primary Business | : | Manufacture and sale of radial tires for passenger cars. |
| Total Investment | : | Approx. 500M USD* |
| Capitalization | : | Approx. 230M USD* |
| Capital Structure | : | Sumitomo Rubber Industries, Ltd.: 80%
Abdulkadir Ozcan Lastik Sanayi ve Ticaret A.S. (AKO): 20% |
| Start of Production | : | June 2015 |
| Production Capcity | : | 4,000 Tires/Day (End of 2015), 30,000 Tires/Day (End of 2019) |
| Area of Premises | : | 1,000,000 |
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