Yokohama Rubber Co. has entered into a master technological alliance agreement with South Korea’s Kumho Tire, a member of the Kumho Asiana Group, company officials said Feb. 14.
The agreement defines the framework and purpose of the proposed technology alliance between the two companies, following their signing of a memorandum of understanding on Nov. 29.
Both companies aim to increase their competitiveness in the global tire market by sharing and making more effective use of R&D resources to jointly develop tire-related products of the future, including environmental technology.
Under this master agreement, Yokohama Rubber and Kumho Tire will conduct detailed discussions on various other contracts, including a cooperative R&D agreement and a licensing and technology exchange agreement. The companies will also proceed with discussions on a proposed capital alliance based on cross-shareholdings.
Source: The Asahi Shimbun
Published: 14 Feb 2014