Yokohama advances rapidly into China
Yokohama Rubber Co. Ltd., through its wholly-owned Yokohama Rubber (China) Co. Ltd. subsidiary, is making major inroads into China.
Earlier this month, Yokohama established Suzhou Yokohama Tire Co. Ltd. in Suzhou City, Jiangsu Province. Beginning October 2007, the new company will manufacture and sell radial truck and bus tires to supplement Yokohama's Japanese imports. Annual production capacity at the $81 million plant will be 350,000 tires.
The company plans to gradually expand the plant as demand in China increases.
Yokohama already has a manufacturing base in China, with Hangzhou Yokohama Tire Co. Ltd., a Hangzhou City, Zhejiang Province-based company that manufactures and markets radial tires for passenger cars, and Shagdong Yokohama Rubber Industrial Products Co. Ltd.
Yokohama Tire Sales (Shanghai) Co. Ltd. is the company's tire sales subsidiary in China. Established in January, the joint-venture company between Yokohama Rubber (China) Co. and YHI Corp. (Singapore) Pte. Ltd. plans to increase sales in the rapidly growing tire market in China by strengthening cooperation between manufacturing and sales operations and strategic sales capabilities. (Yokohama owns 51% of the joint venture.)
"Under the umbrella of the controlling company, we will promote the successful development of all Yokohama group operations in China and enhance sales capability created through the establishment of the tire sales company," said Yokohama Rubber Chairman Yasuo Tominaga at the recent grand opening of its newest subsidiaries.