TOKYO (March 30, 2009)—Yokohama Rubber Co. Ltd. said it is leaving the aircraft tire business because sales are minor and growth potential lacking.
The company has made new and retreaded aircraft tires for domestic and military use since 1940. Yokohama plans to stop product deliveries on a step-by-step basis by the end of 2009 and cease all follow-up services during 2010.
The company said it will decide later what to do with the aircraft tire factory in Hiratsuka City, Japan. No decision has been made on the fate of the employees at that site and elsewhere, either.
Yokohama said its aircraft tire sales through March 31 reached about $8.26 million for the year.