Sumitomo Corporation of Americas

Sumitomo Corporation of Americas signed a non-exclusive sales agreement to market EcoVAP's industrial wastewater elimination technology to its global network. EcoVAP's technology evaporates water at a rate nearly 60 times faster than conventional evaporation ponds.

Toyota Tsusho America Inc., Southern Mobility Products, and SteelSummit Holdings (a Sumitomo Corp. of Americas subsidiary) have formed a joint venture called Madison Metal Processing (MMP) to operate a new $40 million, 110,000-square-foot factory near Huntsville, Alabama, to supply steel blanks to Mazda Toyota Manufacturing.

Vallourec S.A. completed the acquisition of the remaining 49% stake in VAM USA, LLC from Sumitomo Corporation of Americas and Nippon Steel Oilfield Services Inc. for $41.6 million.

Michelin North America and Sumitomo Corporation of Americas announced a 50-50 joint venture combining their North American replacement tire distribution and service operations to create NTW, the second-largest wholesale tire distributor in the US. The deal is expected to close in late March 2018.

Michelin North America and Sumitomo Corporation of Americas announced a definitive agreement to combine their North American replacement tire distribution and service operations in a 50-50 joint venture, forming the second-largest wholesale tire player in the US. The combined unit will operate under the brand NTW as part of TBC Corporation.