Yokohama Rubber ends technology tie-up with Kumho Tire
A new beginning, and also an end: 6 July, the date on which Doublestar Tire’s acquisition of a 45 per cent share in Kumho Tire was officially completed, was also the day a full stop was placed behind more than four years of technological cooperation between Yokohama Rubber and Kumho Tire. In a statement issued today, Yokohama Rubber informs that it terminated these tie-ups according to their terms and condition following the change in Kumho Tire’s controlling shareholder.
Yokohama Rubber and Kumho Tire entered into a Master Technological Alliance Agreement on 15 February 2014 and into a Cooperative R&D Agreement and License and Technology Exchange Agreement on 31 May 2014. The goal of these three agreements was to jointly work towards developing tyre-related future technologies, including environmentally friendly tyre technologies and new concept tyres.