Sumitomo buys brownfield land in USA
Sumitomo Rubber USA has bought 6.4 acres of brownfield land adjacent to its tyre manufacturing site in Tonawanda. According to the New York State-based Buffalo News, Sumitomo’s new land used to be home to a chemical plant that was destroyed by a fire nearly 30 years ago.
Local news reports suggest Sumitomo paid $192,900 for the property. After the fire three decades ago, federal and state environmental agencies cleaned up the site at a reported cost of $6 million. But this did not include demolition of the buildings on the property.
In October 2015 Sumitomo reclaimed full control of what was called the Goodyear Dunlop Tires North America plant. The company has unveiled plans to invest $87 million in the complex.
Sumitomo reportedly bid for the land in December.