Yokohama Rubber to Acquire Japanese Manufacturer of Industrial Tires
- Management relation
Tokyo—The Yokohama Rubber Co., Ltd., announced today that it has reached agreement with the shareholders of Aichi Tire Industry Co., Ltd., to purchase all of that company’s shares. Aichi Tire, headquartered in Komaki, Aichi, manufactures tires for industrial machinery, including forklifts, and the acquisition will therefore strengthen Yokohama’s position in that product sector. Yokohama’s plans call for completing the acquisition by March, 2017.
Aichi Tire’s products include solid tires and press-on tires. The company supplies those tires to an extensive clientele of industrial machinery manufacturers, mainly in Japan.
Expanding business in commercial tires is an emphasis in tire strategy in the ongoing Phase IV (2015–2017) of Yokohama’s medium-term management plan, Grand Design 100. Measures for achieving that strategic aim have included opening a Mississippi plant for producing truck and bus tires in October 2015 and acquiring the Amsterdam-based manufacturer of off-highway tires, Alliance Tire Group B.V., in July 2016.
Aichi Tire Industry Co., Ltd
Headquarters 5827-1, Nenjozaka, Okusa, Komaki, Aichi
Main business • Manufacturing and marketing solid tires and press-on tires for industrial machinery
• Manufacturing, marketing, and installing industrial rubber products
Plants Komaki and Kasugai, Aichi, Japan
Established July 1942
President Masayoshi Nagase
Paid-in capital ¥98 million
Net sales ¥7.4 billion (fiscal year ended March 31, 2016)
Operating income ¥590 million (fiscal year ended March 31, 2016)