Sumitomo Rubber sets up rubber procurement company
After considering a number of factors, such as a changing business environment as well as growing awareness of human rights and environmental considerations, Sumitomo Rubber Group has established its own local organisation for procuring natural rubber. It has done so via its member company Sumitomo Rubber Industries, which this month set up Sumitomo Rubber Singapore Pte. Ltd. This entity, located in the world’s largest natural rubber trading hub, will commence operations in April.
The new business will take over the group’s natural rubber procurement from Sumitomo Rubber Asia (Tyre) Pte. Ltd., the natural rubber division of the company’s tyre sales subsidiary in Singapore. In addition to procurement, it will be responsible for outward-looking efforts such as Sumitomo’s engagement within the Global Platform for Sustainable Natural Rubber (GPSNR), the 2018-launched organisation that brings together various stakeholders involved in natural rubber, including natural rubber suppliers, tyre makers, vehicle manufacturers and NGOs.
The wholly-owned subsidiary of Sumitomo Rubber Industries is headed by Yoshiaki Yasuda and as of January 2020 employs 11 people.