Sumitomo Rubber Industries Ltd. (TYO:5110) will increase its U.S. production capacity of passenger car and light truck tires from currently 5,000 tires to 10,000 per day by the end of 2019, said President and CEO Ikuji Ikeda during a recent interview with Japan Rubber Weekly. He added that this move aims at expanding sales of high value-added tires in the...
Sumitomo Rubber Industries Ltd. (TYO:5110) has reached an agreement with Graphite Capital Management LLP to acquire British tire distributor Micheldever Tyre Services Ltd. for 215 million pounds ($262 million). The acquisition aims at expanding the company’s tire business in Europe. Following the dissolution of its alliance with Goodyear Tire & Rubber Co. in October 2015, Sumitomo Rubber is using its...
Yokohama Rubber Co. Ltd. (TYO:5101) said today that it has reached an agreement with shareholders of industrial machinery tire manufacturer Aichi Tire Industry Co. Ltd. to acquire all of the company’s shares at an undisclosed amount. Yokohama expects the acquisition to strengthen its position in that product sector and plans to complete the acquisition by March 2017. Products of Komaki,...
Sumitomo Rubber Industries Ltd. (TYO:5110) is proceeding with revamping its North American plants and bringing in new equipment for use with current production, said President & CEO Ikuji Ikeda at a press conference last week. He added that, with a view to the future, the company will also adopt new production technology to increase production capacity for high-performance tires. Increasing...
Toyo Tire & Rubber Co. Ltd. (TYO:5105) will start shifting from thermal energy sources to natural gas at its Sendai automobile tire manufacturing plant in Iwanuma, Miyagi Prefecture. The Sendai plant has been Toyo Tires’ manufacturing base for automobile tires for more than half a century since 1962. Until now, it has utilized the burning of coal and used tires...
The Japan Automobile Tyre Manufacturers Association (JATMA) has announced its 2016 estimates for domestic demand of automobile tires, together with its forecast for 2017. According to the association, domestic demand in 2016 was in line with the previous year at 117.87 million units, and a virtually identical demand of 118.19 million units is anticipated for 2017. This demand estimate is...
