Sumitomo Rubber sees tyre output to rise 5 pct in 2013

Thu Feb 14, 2013 7:04am EST

TOKYO, Feb 14 (Reuters) - Sumitomo Rubber Industries
, Japan's second-biggest tyre maker, said it expected
group production to rise by about 5 percent to 102.17 million
tyres, or 554,000 tonnes of rubber equivalent in 2013.
    This would be its fourth annual increase in production
thanks to recovery in shipments abroad for new automobiles and
for replacements, the company said in a statement. In 2012 group
production totalled 97.17 million tyres, or 525,000 tonnes of
rubber equivalent.
    The company expects group net profit to rise to 41 billion
yen ($439 million) in 2013 from a record 35.5 billion yen in
2012. 
    "In Japan, the government is preparing a package of stimulus
spending. But it would take a while before such spending helps
the economy to enter a cyclical uptrend," company President
Ikuji Ikeda said at an earnings briefing on Thursday.
    Ikeda also said Sumitomo Rubber would study the needs of
each region and select the best location to build a new factory
with a capacity of at least 15,000 tyres a day by the end of
this year.
    Below is Sumitomo Rubber's outlook for global tyre demand in
2020 in million tyres, with a regional breakdown and a percent
change for each region from 2011.
    
    Region        2020 forecast  change from 2011
    Europe             417         +12 pct 
    North America      391         +14 pct
    China              350         +73 pct
    Latin America      145         +65 pct
    Australia Oceania  140         +26 pct
    India              133        +148 pct
    Middle East        109         +58 pct
    Japan               98         -10 pct
    ASEAN               72         +60 pct
    Russia              59         +36 pct
    Africa              54         +41 pct
    Total            2,000         +33 pct     
($1 = 93.4600 Japanese yen)

 (Reporting by Risa Maeda; editing by Jane Baird)