Hamatite sale to Sika Group completed

The Yokohama Rubber Co., Ltd. has completed the transfer of its Hamatite business to Swiss-based speciality chemicals company Sika Group. The transaction took place according to the schedule announced on 28 April and sees Sika Hamatite Co., Ltd. and Sika Hamatite Sales Co., Ltd. take over Hamatite operations in Japan. Hamatite operations conducted by Yokohama Rubber Group companies in the United States, China, and Thailand are being assumed by, respectively, Sika Automotive Kentucky, LLC, Sika Hamatite Automotive (Zhejiang) Co., Ltd., and Sika Thailand.

The business transfer is expected to result in the posting of a profit of about 5 billion yen (£32.2 million) on discontinued operations (separate from continuing operations) on Yokohama Rubber’s fiscal 2021 fourth-quarter accounts, however the company stresses that the actual amount is currently under examination and is therefore subject to change.