(Ecofin Agency) - The International Rubber Plantations Society (SIPH) plans to invest €19 million in its business this year. The financing will be used to boost global rubber production by 22% to 228,000 tons.

According to the group, this investment will be made while taking in consideration decrease in cost and investment control, in order for it to remain profitable. The firm whose turnover dropped by 0.8% in 2015 was able to compensate the slump in price of rubber by increasing its sales. Despite a net negative result (-3.8 million Euros), the firm was more resilient over the past year than in 2014 where it lost €61.9 million.

Estbalished in 1905, SIPH is held in majority by the Ivorian firm SIFCA and French group Michelin.

Aaron Akinocho