Yokohama plant receives Chinese grant

Yokohama Rubber’s tyre plant in China, Hangzhou Yokohama Tire Co., Ltd., has benefitted in RMB 13.47 million (£1.4 million) in grants from Hangzhou City and the Hangzhou Economic and Technological Development Zone (HEDA). The grants cover the period between December 2012 and March 2013 and the Japanese manufacturer says they were given in recognition of the company's economic and environmental activities. The grants awarded to Hangzhou Yokohama are said to represent the largest amount awarded to a single company (as opposed to a group of companies) amongst the 340 or so located in the HEDA.

As part of their industrial promotion efforts, the city and the HEDA offer grants to companies located in the city and zone every year. The purpose is to help those firms that contribute to the region’s industrial and economic growth by enabling them to further develop their own businesses. In Yokohama’s view, the current grants reflect Hangzhou Yokohama’s multiple achievements, including the ahead of schedule completion of production capacity expansion plans and the application of Yokohama’s small-scale production method, which enables flexible capital investment according to specific demand.

Environmental contributions include the introduction of a system to purify exhaust from the mixing/vulcanisation process, construction of a sewage treatment facility and energy conservation efforts; Hangzhou Yokohama’s 2012 energy consumption is reported to be more than 15 per cent lower than during the previous year. By the end of last year the factory had also planted some 24,000 trees under the Yokohama Forever Forest Project.

Hangzhou Yokohama Tire was established in January 2002 and began operations in May 2003. The operation manufactures and sells original equipment and replacement market tyres for passenger cars and SUVs. Production capacity has been expanded four times since the plant was opened and is now 5.1 million tyres per annum. As of March 2013, the company employs approximately 1,250 people.