Conti, Yokohama ink joint venture

HANNOVER, Germany (Feb. 19)—Continental A.G. and Yokohama Rubber Co. Ltd. have finalized an agreement to establish a joint venture in Tokyo to coordinate supply of tires to Japanese and Korean car makers and promote sales of Continental-brand tires in the Japanese aftermarket. The new company, Yokohama Continental Tire Co. Ltd., will market Continental- and Yokohama-brand tires for passenger cars, light trucks and trucks/buses to Japanese car makers and their overseas transplants as well as to Korean auto makers, the two companies said in prepared statements. The firms also agreed to exchange technology related to promoting their joint activities. The new company will begin operations by the end of March, they said, and will operate offices in Nagoya, Osaka and Hiroshima, Japan, along with liaison offices in the U.S. and Germany.