From Tire Review
VIETNAM – Yokohama Rubber Corp. is in the process of winding up the joint venture it operated in Vietnam for the past 15 years and intends to integrate this into its local subsidiary.
The company announced on Sept. 4 that the three joint investors in Yokohama Tire Vietnam Co. (YTVC) – Yokohama Rubber, Southern Rubber Industry Co. (Casumina), and Mitsubishi Corp. – began preparing to end the joint venture company in August as part of what Yokohama calls the “enhancement” of its tire manufacturing and marketing operation in Vietnam.
YTVC will be integrated into Yokohama Tire Vietnam Inc., a 100 percent-owned subsidiary of Vietnam Rubber. This move is described by Yokohama as an “operational unification” that “further enhances its tire manufacturing and marketing operation in Vietnam, upgrading its presence in the local market.” At the same time, Yokohama shares that it plans to “streamline and strengthen” Yokohama Tire Vietnam Inc. as a base for supplying mini-spare tires worldwide.
The joint venture company was founded in November 1997 and manufactures cross-ply tires for motorcycles and light commercial vehicles. The Japanese tiremaker’s 100 percent-owned subsidiary, Yokohama Tire Vietnam Inc., was established in June 2006 in order to meet growing demand for tires in Vietnam. The subsidiary constructed and operated an integrated plant near Ho Chi Minh City, and since February 2008 the company has manufactured and marketed cross-ply motorcycle, light commercial and industrial vehicle tires, as well as mini-spare tires.
Although Yokohama is parting ways with Casumina and Mitsubishi Corp. in relation to this joint venture project, the company says it plans to keep a “conventional good relationship” with both firms. (Tyres & Accessories)
