DTR Tennessee, Inc. President and COO Randy Rumbley has announced that the company will change its name to SumiRiko Tennessee, Inc. effective March 1.
On October 1, 2014 Tokai Rubber Industries, LTD, DTR Tennessee’s parent company and owner, officially changed their company name to Sumitomo Riko Company Limited. Tokai Rubber Industries, LTD was founded in 1929 and has developed various products for the automotive, industrial, and information technologies industries based on their compounding technologies for high-polymer materials.
They achieved the number one share in the global market of automotive anti-vibration rubber products and became a global corporation with subsidiaries in 23 countries and 105 sites, including DTR Tennessee, Inc. over the last 88 years.
In addition to strengthening existing business, the company has been actively accelerating the business development in new industries. As part of the company’s 2020 vision, it will focus on four kinds of markets: Automotive, electronics, infrastructure, and housing environment and medical and nursing health care.
In order to accelerate the entrance into the new business and market, the company made the decision to change their name in 2014. The new name combines the trustworthy global brand “Sumitomo” with the Japanese word “Riko” (physics, chemistry and engineering) which represent the core technologies of the company.
Tokai Rubber Industries, LTD equity was acquired by Sumitomo Electric Industries, LTD in 1937 and has had a long, successful 80-year history with Sumitomo Electric.
In keeping with this global vision, it was decided that the subsidiaries would also undergo the company name changes to take advantage of the global branding. That is the main reason DTR Tennessee, Inc. is changing their company name to SumiRiko Tennessee, Inc., according to a news release from the company.
This is also an effort to commonize all the different names of the 105 sites in the 23 countries that have evolved over the company’s long successful history of 88 years.
DTR Tennessee, Inc. has two plants, located in Midway and Tazewell, Tennessee. They manufacture anti-vibration, hose, and sound-proofing products for the automotive industry. They employ over 1,500 associates in Midway and Tazewell and were established in 1996.
There will be no change to DTR Tennessee’s ownership, management or daily operations as a result of this name change, according to the release. The company states they will continue their efforts to be a global excellent manufacturing company.
