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...
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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....
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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...
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