21 Dec 2023
YRC spins off Vietnamese production and sales company, establishes a new tire sales entity
Tokyo - Yokohama Rubber Co. (YRC) is restructuring its operations in Vietnam with plans to separate the production and sales of Yokohama Tire Vietnam Inc. (YTVI) into a separate company.
While YTVI will maintain its tire-production function in Vietnam, the sales business will transfer to recently established Yokohama Tire Sales Vietnam Co. (YTSV), set to start operations 1 Jan 2024.
Established in 1997, YTVI currently is involved in the production and sales of bias tires for motorcycles, light trucks, industrial vehicles, and passenger car spares.
The subsidiary also imports and sells Yokohama Rubber's radial tires for passenger cars and trucks, YRC said in a 19 Dec statement.
With the restructuring, YRC said is establishing a new sales company to respond to “the rapid increase in demand” for radial tires in the market in recent years.
“We have determined that it is essential to expand our business by separating production and sales,” it added.
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