Yokohama Establishes Sales Company in Russia

Yokohama Rubber Co has established a tyre sales subsidiary in Russia on 1 April to reinforce local marketing. The Moscow based company is called Yokohama Russia L.L.C and operations will commence in late April. The new company is a joint venture between Yokohama and Itochu Corporation (with 85.1 and 14.9 per cent shares respectively).

The subsidiary is capitalized at $400,000 and has is aiming for annual sales of 700,000 tyres by 2008. The new company will only offer passenger car tyres to begin with, with the intention of augmenting the lineup with truck and bus tyres if and when this is favourable. The new entity will complement nine other Yokohama sales companies in Europe, notably in the United Kingdom, Italy, Switzerland, Sweden, Germany, Austria, Denmark, Belgium, and Spain.