UPDATE 1-Sumitomo Rubber to absorb two units-paper

Newswire

TOKYO, Dec 26 (Reuters) - Japan's third-largest tyremaker, Sumitomo Rubber Industries Ltd, will absorb two subsidiaries, Ohtsu Tire and Rubber Co Ltd and Dunlop Japan Ltd, as early as next July, a newspaper reported on Thursday. The move, which will make Sumitomo Rubber the nation's second-largest tyre manufacturer, is aimed at boosting the competitiveness of the firm's group operations, the Nihon Keizai Shimbun said in its evening edition. Sumitomo Rubber, owned 10 percent by U.S.-based ...

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