Yokohama Rubber Co. Ltd. (TYO:5101) has revised its projections of full-year earnings for 2016, CEO Hikomitsu Noji recently revealed. Noji pointed to an appreciating yen relative to when the previous public projection was made and to a dip below the previous projection for tire sales, namely in Russia and the Americas. Additionally, Noji said that demand has been sluggish with...
Yokohama Rubber Co. Ltd. (TYO:5101) has completed its acquisition of Alliance Tire Group B.V. (ATG) effective July 1. ATG will be included in company’s consolidated accounts from the third quarter of FY 2016 (October – December). ATG is headquartered in Amsterdam, the Netherlands. Its main business is the manufacture and sale of tires for agricultural, forestry, industrial, and construction machinery....
In January 2015, Sumitomo Rubber Industries Ltd. (TYO:5110) acquired Lonstroff Holding AG. This is the parent company of Swiss firm Lonstroff AG, a manufacturer of rubber products used in the medical field. By ensuring it has a European base for manufacturing and selling such rubber products, Sumitomo Rubber will focus on Europe as it further develops its global presence in...
