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).
(Akron/Tire Review) Citing “continued escalation of petroleum derived material costs, energy cost increases, freight cost increases and social cost adjustments,” Yokohama Tire Corp. said it would increase prices across the board on its TBS and commercial LT tyres. Prices on these tyres will increase by 5 per cent to 6 per cent, the Yokohama said, and “additional in-line adjustments will be made.” Detailed pricing information will be sent to dealers before 1 June, when the price increases take effect.
Yokohama Tire Philippines has started its P5.8-billion (£56.6 million) expansion project in the Clark economic zone.
This, the third expansion project of the plant is designed to boost production to 20,000 tyres a day by September 2006 from its present 9,000 tyres a day capacity.
Yokohama Rubber will participate in the 11th “Auto Shanghai 2005”, which runs from 22-28 April in Shanghai, China.
In an effort to enhance its image as a supplier of high performance tyres, the company will show AVS dB and ASPEC A380 high-performance passenger-car tyres manufactured by Hangzhou Yokohama Tire; Yokohama’s manufacturing and marketing subsidiary in Hangzhou City, Zhejiang Province, China. It will also exhibit GEOLANDAR H/T-S on-road-use SUV tyres to be manufactured and marketed by the subsidiary this year.
(Akron/Tire Review) Yokohama Tire Co. has launched its new Advan Neova tyre, available in 14 sizes, in the US. In conjunction with the tyre launch, the company also introduced a new Web site – at www.advan.com/USA – that contains information exclusive to the Advan brand in the US.
The Yokohama Rubber Co., Ltd., will participate in the three-day Aircraft Interiors Expo 2005, which starts today at the Hamburg International Exhibition and Conference centre. The annual event is the world’s largest for aircraft interiors. The company will exhibit its lavatory modules and water tanks in its first appearance at the exposition.
(Fullerton, California/Tire Review) Yokohama Tire Corp has premiered its new Advan brand television commercial on the Speed Channel. The commercial was aired multiple times during the network’s replay of the 12 Hours of Sebring 2005 American Le Mans Series (ALMS) event. “We believe Advan will reinstate Yokohama as the premier ultra-high performance consumer tyre-maker,” said Art Michalik, director of marketing communications for Yokohama.
(Akron/Tire Review) In the US Yokohama Tire Corp will increase OTR tyre prices “across the board,” effective 1 April, the company announced. The tyre manufacturer’s OTR tyre line will increase by 3-8 per cent, and additional in-line adjustments will be made, it said. Detailed pricing information will be sent to dealers. Yokohama said the reasons for the increase include rising costs of resources, such as steel, fabric and petroleum-derived materials.
(Akron/Tire Review) Del-Nat Tire Corp. president Dan Hunter abruptly left the company on 14 March. Mr Hunter, who served as president of the private brand cooperative, joined Del-Nat in 2001 after holding executive positions with Yokohama Tire Corp. Del-Nat chairman Dick Erickson, of Sun Tire in Jacksonville, Florida, is heading the search for a new president. He has assumed duties as Del-Nat’s president until a replacement for Hunter can be found.
This year the General brand is celebrating its 90th anniversary, while Toyo Tire & Rubber Co will enjoy its 60th birthday this summer. At the same time Yokohama Tire Corp is celebrating its 35th year of doing business in North America. 2005 must be the Year of the Tyre Company, writes Tire Review.
The Rubber Manufacturers Association (RMA) has reported that 11 CEOs from tyre companies in Europe, Japan, South Korea and North America met in Geneva during the Geneva Motor Show to discuss common global policy issues faced by the industry. According to news published by Tire Review, the CEOs discussed environmental and health and safety matters, and reached a consensus on two major issues.
The companies agreed to address industry policy issues of tyre materials and tyre wear particles. As part of that, they agreed to initiate independent research on these issues by establishing two project teams that will report back to the group. Participating in the discussions were the chief executives of Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Goodyear Tire & Rubber Co., Hankook Tire Co., Kumho Tire Co., Groupe Michelin, Pirelli & Cie SpA, Sumitomo Rubber Industries Ltd., Toyo Tire & Rubber Co., and Yokohama Rubber Co.
The meeting was attended by representatives of the European Association of the Rubber Industry – BLIC, the Japanese Automotive Tire Manufacturers Association, the Korea Tire Manufacturers Association and the Rubber Manufacturers Association.
Yokohama Rubber Co has announced that it has launched an English-language world Advan site. The website will provide information on the brand policy and the latest ADVAN offerings, as well as links to dealer home pages around the globe. The company says the web site will underscore its brand image with the “Not for Everyone” catchphrase. The web page will also feature Advan Spirit and Product sections, which will highlight the company’s concepts initial offerings respectively. The website can be accessed through http://www.advan.com.
Yokohama Rubber will show exhibit at the 75th Geneva Motor Show, highlighting the company’s Advan flagship brand. The company will exhibit a Gemballa Cayenne fitted with 22 inch Advan ST tyres emphasising its focus on high performance technology, according to a statement. Yokohama Rubber will also exhibit its safety support technologies at the show, including its Zero Pressure System, Support Ring Run-flat System, and tyre pressure monitoring system for passenger cars.
Yokohama Rubber Co. established Yokohama Tire Korea Co. Ltd., a wholly owned sales subsidiary, which will now handle all marketing and sales efforts in South Korea, Tire Review has reported. Previously, a local distributor represented Yokohama in that country. The subsidiary, established in mid-January, will begin operations this month, according to Yokohama Rubber Co. Yokohama said it hopes to reach $10 million in sales in South Korea within three years.
In the first three months of the 2005 financial year Yokohama reported 305.9 billion yen (£1.54 billion) of net sales, a three per cent increase on the previous year. The company explains that strong overseas sales offset the negative impact of the high yen. Results for the period ended 31 December 2004, also showed that operating income dropped to 17.5 billion yen (£88 million). At the same time net income decreased 6.9 per cent to (roughly £41.23 million)
Yokohama reports that tyre sales were “solid” overseas, especially in North America, Asia and Europe, while replacement sales in Japan grew. Sales of the Tire Group therefore increased 4.3 per cent to 226 billion yen (£1.14 billion). The management maintains its full year projections, saying that Yokohama will record a 4.6 per cent gain in net sales, a 9.1 per cent increase in operating income, a 4.3 per cent rise in ordinary income and a 3.2 per cent drop in net income.
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