Yokohama Rubber Co. Ltd. (TYO:5101) announced on Feb. 19 that it intends to dissolve and liquidate Yokohama Industrial Products Italy S.r.l., an Italian subsidiary focused on the production and sale of marine hoses. The Japanese parent company has already sold Yokohama Industrial Products Italy’s tangible fixed assets to a third party, with the transfer of these assets having been completed...
Goodyear Tire & Rubber Co. is set to acquire Cooper Tire & Rubber Co. for approximately $2.5 billion. Announced on Feb. 22, the acquisition will allow Goodyear to combine the mutually complementary brands of the two companies, expanding the product lineup it can offer to consumers and customers. By combining the strengths of the two North American companies in the...
The Michelin Group is set to build its first tire recycling plant, locating this in the Antofagasta region of Chile as a joint venture with Swedish-based Scandinavian Enviro Systems AB (Enviro). Construction on the plant is slated to begin this year, with production then beginning in 2023. The project is expected to require an investment of around $30 million. Enviro...
The Michelin Group recently announced that it has been chosen to serve as Societe Air France SA’s exclusive tire supplier for the next 10 years. Beyond just covering tire supply, a new agreement between the two companies will see them bolster their collaborative efforts with regard to the sustainable development of the aviation sector, including CO2 emissions reduction and the...
The COVID-19 pandemic continues to make it difficult to secure containers for imports and exports, and Japan’s rubber industry is no exception. Further, with the potential for the issues here to not only hinder stable product supply but also drive up costs, there are a number of players in the industry voicing concern over the current state of affairs. As...
Toyoda Gosei Co. Ltd. (TYO:7282) is establishing a new plant in Ohira, Kurokawa-gun, Miyagi Prefecture, to bolster its auto parts production capacity in the Tohoku region and better serve its main customer, Toyota Motor East Japan Inc. Set to be established under production subsidiary Toyoda Gosei East Japan Co. Ltd., the new plant is slated for a construction start this...
