HO CHI MINH CITY, Vietnam (Sept. 4, 2012)—Yokohama Rubber Co. Ltd. is absorbing its tire manufacturing joint venture in Vietnam and integrating the operation into its wholly owned activities there, Yokohama Tire Vietnam Inc., in the hope of enhancing its manufacturing and marketing operation in that country.
Yokohama Rubber founded Yokohama Tire Vietnam Co. in 1997 in Ho Chi Minh City as a joint venture involving Yokohama Rubber, Vietnam's Southern Rubber Industry Co.—known as Casumina—and Japanese trading company Mitsubishi Corp. Yokohama Tire Vietnam Co. makes bias-ply tires for two-wheelers and light trucks.
Yokohama Rubber said Casumina and Mitsubishi have agreed to wind up the joint venture, but it did not disclose any financial information about the costs or expected benefits. Yokohama Rubber owns 56 percent of the venture, while Mitsubishi controls 30 percent and Casumina the rest.
Yokohama said it “plans to keep conventional good relationships with Casumina and Mitsubishi” following the change, but it did not elaborate.
Yokohama Rubber also said it plans to streamline and strengthen Yokohama Tire Vietnam Inc. as the base for supplying mini-spare tires worldwide, but it provided no investment or capacity expansion details.