Yokohama acquires Aichi Tire Industry
The Yokohama Rubber Co., Ltd., announced on 15 March that it completed the acquisition of Aichi Tire Industry Co., Ltd. (Aichi Tire Industry). Yokohama first announced the agreement to acquire Aichi Tire Industry on 6 January 2017.
According to the company, the reason for the acquisition is to expand its commercial tyre business as emphasised in the firm’s “tyre 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 tyres in October 2015 and acquiring the Amsterdam-based manufacturer of off-highway tires, Alliance Tire Group B.V., in July 2016.
Established in July 1942, Aichi Tire Industry Co., Ltd manufactures and markets solid tyres and press-on tyres for industrial machinery/manufacturing, marketing, and installing industrial rubber products. The firm has plants in Kasugai and Komaki, Aichi, Japan.
Full-year 2016 net sales amounted to 7.4 billion yen, while operating income for the same period totalled 590 million yen.