TOKYO—Yokohama Rubber Co.'s Italian marine hose subsidiary, Yokohama Industrial Products Italy S.r.l. will begin making the company's Seaflex marine hoses for transport of crude oil and petroleum products, the firm said on March 28.
The plant was recently certified as compliant with the Guide to Manufacturing and Purchasing Hoses for Offshore Moorings 2009, a standard established by the Oil Companies International Marine Forum.
Production and sales by the Italian subsidiary will reduce exposure to forex risk, strengthening the hoses' competitiveness in Africa and the Middle East, where the YIPI plans to expand sales, Yokohama said.
The Italian plant is the second Yokohama Rubber plant to receive GMPHOM 2009 certification, with the other being the company's Hiratsuka Factory in Japan.
Yokohama Rubber' said its Multiple Business group aims to expand overseas sales of its products, which include hydraulic hoses, conveyor belts, and such marine products as hoses and pneumatic fenders.
The MB group plans to raise its overseas sales ratio to 50 percent by fiscal 2018, which is calculated through March 31 of that year.
As part of that plan, the group is currently constructing a marine products plant on the island of Batam in Indonesia. This plant will manufacture marine hoses and pneumatic fenders and plans to obtain local certification of the Seaflex brand during 2016.
The Japanese company acquired the Italian marine hose manufacturing and sales company Parker MHP S.r.l. from its U.S. parent company Parker Hannifin Corp. in September 2014. The acquisition included the ISOLA brand of marine hoses, which Yokohama Rubber continues to manufacture and sell through its overseas sales offices.