TOKYO (Sept. 25, 2009)—Yokohama Rubber Co. Ltd. has acquired the tire mold manufacturing business of a Japanese mold company and set up a subsidiary, Yokohama Mold Co. Ltd., to accommodate the new business.
Yokohama said establishing the new unit fits its strategy to reduce costs by increasing the amount of captively held component supply businesses.
Yokohama bought the tire mold business of Hashiba Tire Mold Inc. in July and set it up as a stand-alone business with 48 employees in Omitama City, Japan, in August. Terms of that deal were not disclosed.
Hashiba Tire Mold continues to make and sell precision casting products and various types of molds excluding tire molds, Yokohama said.
Yokohama Mold Co. Ltd. makes molds for both passenger and truck tires and is capitalized at slightly more than $1 million.