Yokohama terminates technology tie-up with Kumho Tires

August 10, 2018

KumhoJapan’s Yokohama Rubber says that it has terminated its four-year old technology tie-up with Kumho Tire Co., effective July, after China’s Qingdao Doublestar bought a 45% stake in Kumho this year, becoming its largest shareholder.

Yokohama Rubber and Kumho Tire entered into the Master Technological Alliance Agreement on February 15, 2014, and entered into the Cooperative R&D Agreement as well as the License and Technology Exchange Agreement on May 31, 2014, with the goal of working together to develop the tyre-related future technologies, including environmentally friendly tyre technologies and new concept tyres.
Kumho Tire, established in1960, is headquartered in Gwangju, South Korea. Kumho Tire recorded consolidated net sales of 2,876.4 billion won in fiscal 2017. The company has eight tyre plants in South Korea, China, Vietnam and the US and employs about 10,000 people globally.

Yokohama Rubber, founded in 1917, is engaged in the manufacture and sale of tyres and a variety of products in its MB (Multiple Business) operations and golf equipment. In fiscal 2017 (ended December 31, 2017), the company recorded consolidated sales revenue of 646.3 billion yen, with tyres accounting for 459.9 billion yen of the total. Yokohama Rubber operates 14 tyre plants in eight countries around the world and employs about 25,000 people globally.

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