Yokohama Rubber Co. Ltd.is acquiring Japan-based industrial tire maker Aichi Tire Industry Co. Ltd.

The company expects to complete the acquisition by March 2017.

Aichi's products include solid tires and press-on tires, which are supplied to original equipment manufacturers of industrial machinery, such as forklifts. Most of the company's business is in Japan. For the fiscal year ended March 31, 2016, Aichi's net sales were 7.4 billion yen, or about $65.9 million.

Yokohama is working to expand its commercial tire business as part of the ongoing Phase IV of its management plan. The company has already expanded its truck and bus tire production with the October 2015 opening of a new plant in Mississippi, and the July 2016 acquisition of Alliance Tire Group B.V.

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