TOKYO (Feb. 14, 2014) —Yokohama Rubber Co. Ltd. has signed a master technological alliance agreement with South Korea's Kumho Tire Co. Inc. that defines the framework and purpose of the firms' proposed technology alliance.
The agreement paves the way for further discussion of the details of the proposed technology tie-up between the two companies. The master agreement is the result of discussions between the two companies following the signing of a memorandum of understanding on Nov. 29.
The two companies said the alliance will help them increase their competitiveness in the global tire market by sharing R&D resources and making more effective use of them through joint research and development on tire-related technologies, including environmental technology.
Under the agreement, Japan's Yokohama and South Korea's Kumho will conduct detailed discussions on various other contracts, including a cooperative R&D agreement and a licensing and technology exchange agreement, that set forth the details of their technology alliance.
The companies also will proceed with discussions on a proposed capital alliance based on cross-shareholdings.
Yokohama is considered the world's No. 8 tire maker, with 2012 tire sales of $5.57 billion, and Kumho the No. 12 maker, with sales of $3.6 billion.
Titan International and the United Steelworkers union have petitioned the U.S. International Trade Commission and U.S. Department of Commerce seeking relief from OTR tire imports from China, India and Sri Lanka. What’s your opinion?
|I wholeheartedly support their action – something needs to be done.||
|I think it’s a bad idea that could inevitably tie the hands of domestic tire makers.||
|I oppose any duties against tire importers—they only raise costs for distributors and make it harder to obtain inventory.||
|I’m kind of on the fence and not sure what’s right, but need more information before deciding.||
|I don’t really care whether or not relief is granted.||
|Total votes: 78|