TYRE makers Yokohama Rubber Co Ltd and Kumho Tire Co Inc, are embarking on a possible technology exchange and cross ownership following a signing of a memorandum of agreement (MoU) in late November, which covered the various aspects of their interest.
The technology exchange is targeted at increasing the competitiveness of both companies,they said.
This will include sharing of R&D resources for joint research and development on tyres and related technologies, according Yokohama.
The companies also plan to enter into a capital alliance based on cross-shareholdings. Details of the alliance—including methods for obtaining each respective shares, the size of shareholdings and the timing of acquisition—with the aim of signing a legally binding contract as early as possible, will be discussed.