Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • ITEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
January 31, 2008 01:00 AM

Yokohama-Barrick OTR tire deal includes $35 million loan

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    TORONTO (Jan. 31, 2008) — Barrick Gold Corp. will loan Yokohama Rubber Co. Ltd. $35 million to help finance an expansion of Yokohama's OTR tire plant in Japan as part of a 10-year, $200 million deal between the firms.

    The contract, which would start in 2009, covers five sizes of bias-ply OTR tires, including loader and haul truck sizes up to the 40.00-57 profile, Barrick said.

    In addition, Yokohama will provide technical assistance with each Barrick site to ensure that the proper compound, tread pattern and other characteristics are optimized for the operation.

    Barrick mines will receive delivery directly from Yokohama's plant in Onomichi, Japan, and direct-from-manufacturer pricing for the duration of the contract, Barrick said.

    To meet the demand of the contract — 1,300 tires a year for 10 years — Yokohama will spend $50 million to expand the Onomichi plant with a new building, production line and related equipment, Barrick said. The expansion there is expected on stream late this year.

    Barrick said a boom in recent years in the mining and construction industries created high demand and tire shortages as well as upward pressure on prices.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Wacky World of Rubber: The true story behind the rubber match
    2
    Parker-Hannifin to sell Avon, Ohio-based unit for $440 million
    3
    Wacker aims to increase global silicone capacity
    4
    Watch: Michelin launches major ‘Motion for Life' ad campaign
    5
    Updated: Conti fined for compound mixer explosion, shears accident
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • ITEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION