Yokohama Rubber Co. Ltd.’s (TYO:5101) European headquarters, Yokohama Europe GmbH, has concluded a contract to acquire all shares of ITR CEE Spolka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tires in central and eastern Europe. Once the transfer of shares is complete, the Polish company’s name will be changed to Yokohama CEE Społka z.o.o. Yokohama...
Rubber industry earnings reports for the fiscal year through March 2021 show a second-half recovery from nearly across-the-board first-half negative revenue and profit performance due to the economic impact of the COVID-19 pandemic that struck early in 2020. The second-half turnaround reflected a worldwide economic recovery, powered in large part by strong performance in the Chinese and U.S. automotive industries....
Leading synthetic rubber manufacturer JSR Corp. (TYO:4185) has announced plans to transfer its elastomers business to Eneos Corp. Due to be completed on April 1, 2022, the deal here will be based on a valuation of 115 billion yen ($1.05 billion). Commenting on the deal, JSR CEO Eric Johnson acknowledged that elastomers have been a core business for JSR since...
Bridgestone Corp. (TYO:5108) and the Bridgestone Group have had seven plants receive a Platinum Level rating under Caterpillar Inc.’s Supplier Quality Excellence Process (SQEP) for 2020. This is the highest supplier rating provided by the U.S.-based manufacturer of construction and mining equipment. Four of the seven Bridgestone plants to receive this rating manufacture tires for construction equipment, including the Santo...
Yokohama Rubber Co. Ltd. (TYO:5101) recently announced that it will transfer the company’s Hamatite business to Sika AG, a Swiss-based specialty chemicals company. The transfer is scheduled to take place on Nov. 1, with the cost of the acquisition still under discussion. Included in the transfer are the Hamatite businesses operated by Yokohama Rubber, with these being Yokohama Industrial Products...
Toyoda Gosei UK Ltd. (TGUK), a local subsidiary of Toyoda Gosei Co. Ltd. (TYO:7282), is planning to end its production operations. The company is currently looking to consult with employees regarding the proposed closure. With automakers continuing to scale back or close their production in the U.K., TGUK has determined that it cannot expect to achieve growth going forward. This...
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