Yokohama, Kumho follow MoU up with R&D master agreement
The Board of Directors at Yokohama Rubber and Kumho Tire have resolved to enter into master technological alliance agreement. This agreement is the result of discussions between the two companies following their signing of a Memorandum of Understanding on 29 November 2013; Yokohama says the newly-signed agreement defines the framework and purpose of the technology alliance the two tyre makers will share, and it paves the way for further discussion of the details of the their proposed technology tie-up.
The two companies aim to increase their competitiveness in the global tyre market by sharing R&D resources and making more effective use of them through joint research and development of tyre-related technologies of the future, including environmental technology. Under this master agreement, Yokohama Rubber and Kumho Tire will conduct detailed discussions on various other contracts, including a cooperative R&D agreement and a licensing and technology exchange agreement, that set forth the details of their technology alliance. The companies will also proceed with discussions on a proposed capital alliance based on cross-shareholdings.