Yokohama Signs OTR Supply Agreement with Barrick Gold
Yokohama Rubber announced on January 30 that it has signed a long-term contract with Barrick Gold Corporation for the supply of OTR tyres. Under the terms of the contract, Yokohama Rubber shall deliver approximately 1,300 tyres a year to Barrick for ten years, from 2009 to 2018. To meet this new demand, Yokohama began building the third plant at its Onomichi facility in Japan’s Hiroshima Prefecture in October 2007. The Onomichi plant specialises in the manufacture of OTR tyres and the additions to the facility currently under construction are scheduled to begin operation in January 2009. Yokohama Rubber plans to invest approximately 5 billion yen (£23.57 million) into the third plant’s construction.
Headquartered in Toronto, Canada, Barrick Gold Corporation is the world’s largest pure gold mining company, and owns approximately 30 mines around the world. The company is expanding its mining operation to meet a fast growing demand for gold from the decorative and industrial use markets, thus needed a secure tyre supply in the current environment of global shortages.