UPDATE 2-Sumitomo Rubber to absorb Ohtsu Tire

Newswire

(Recasts with company announcement) TOKYO, Dec 26 (Reuters) - Japan's third-largest tyremaker, Sumitomo Rubber Industries Ltd, said on Thursday it will absorb its subsidiary Ohtsu Tire and Rubber Co Ltd next July 1. Sumitomo Rubber, owned 10 percent by U.S.-based Goodyear Tire & Rubber Co , said the deal is aimed at raising management efficiency and boosting the competitiveness of group operations. Sumitomo Rubber, which currently holds a 51 percent stake in Ohtsu, Japan's ...

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