Sumitomo Riko Co. Ltd. (TYO:5191) is planning to open a new production and sales subsidiary for automotive hoses in Vietnam. This will be the company’s second Vietnamese base for the manufacture of automotive hoses. Set to be named SumiRiko Vietnam Co. Ltd., the new subsidiary will be capitalized at 113.1 billion Vietnamese dong ($4.85 million) and wholly owned by Sumitomo…
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