TOKYO—Yokohama Rubber Co. Ltd. has completed its acquisition of Aichi Tire Industry Co. Ltd., a Japanese producer of solid industrial tires that generates about $65 million in annual sales.
Headquartered in Komaki, Aichi Prefecture, Aichi Tire makes solid and press-on tires for industrial machinery, including forklifts, at plants in Komaki and Kasugai.
Yokohama said earlier the purchase is to strengthen its position in the industrial tire sector in line with provisions outlined in its Grand Design 100 management plan. It follows YRC's acquisition last year of OTR tire maker Alliance Tire Group B.V. and its opening of a truck tire plant in the U.S.
YRC did not disclose the acquisition cost but said Aichi Tire has paid-in capital of about $867,000 and generated $5.2 in operating income last year.
The 75-year-old Aichi supplies its products primarily to Japanese industrial machinery manufacturers.