Yokohama, Alliance Deal Is Complete
Yokohama Rubber Co. Ltd. completed the acquisition of the Alliance Tire Group B.V. (ATG) on July 1. The acquisition of the commercial tire manufacturer allows Yokohama to enter the farm and forestry tire markets.
ATG will be included in Yokohama’s consolidated accounts from the third quarter of fiscal year 2016 (ending Dec. 31, 2016), and the expected impact on the Company’s full-year consolidated financial statements will be announced as soon as possible. Yokohama announced the deal in March.
ATG brings with it three production sites: two in India and one in Israel, as well as annual sales of $529 million and operating profit of $95 million as of fiscal year 2015.