Tokyo, Japan-based tyre manufacturer Yokohama Rubber Company has successfully completed its acquisition of Japanese industrial tyre maker Aichi Tire Industry Co. as part of its strategy to expand in the commercial tyre business.
The expansion in the commercial tyre sector, Yokohama said, is an emphasis in its ongoing Phase IV (2015–2017) medium-term management plan, Grand Design 100. Measures for achieving that strategic aim have included opening a Mississippi plant for producing truck and bus tyres in October 2015 and acquiring the Amsterdam-based manufacturer of off-highway tyres, Alliance Tire Group BV, in July 2016.
Established in July 1942, Aichi Tire Industry Co., Ltd manufactures and markets solid tyres and press-on tyres for industrial machinery/manufacturing, marketing, and installing industrial rubber products. The firm has plants in Kasugai and Komaki, Aichi, Japan.Full-year 2016 net sales amounted to 7.4 billion Yen, while operating income for the same period totalled 590 million Yen.