Continental ends agreement with Toyo
Continental AG has re-fortified its position in the Japanese tire market over the last few months, choosing Yokohama Rubber Co. and Bridgestone Corp. over Toyo Tire & Rubber Co.
The 10-year old technology and co-operation agreement between Toyo and Continental AG has ended, nine months ahead of schedule, according to Tyres & Accessories magazine.
The breakup follows the February formation of a 50/50 joint venture company between Continental and Yokohama to cooperate on technology and tire production in Japan.
On March 6, Continental also announced it is cooperating with Bridgestone Corp. on the development of run-flat tires.
Tyres & Accessories also reports that a Toyo spokesperson says the ending of the Continental/Toyo agreement was brought forward at the request of Continental.