Yokohama Rubber Co. Ltd. has completed another acquisition to meet the company's goal of expanding its commercial tire business.
The deal to acquire Aichi Tire Industry Co., Ltd. closed March 15.. Yokohama first announced the agreement to acquire the company in January.
Aichi's main business is manufacturing and marketing solid tires and press-on tires for industrial machinery, and marketing, manufacturing and installing industrial rubber products.
It operates from two plants in Japan, in Kasugai and Komaki. The company was established in July 1942, and recorded net sales of 7.4 billion yen in the fiscal year ended March 31, 2016., with operating income of 590 million yen for that same year.
Yokohama has also expanded its commercial business with the opening of a a commercial tire plant in Mississippi in October 2015, as well as the July 2016 acquisition of off-the-road tire maker Alliance Tire Group B.V.