TOKYO (Jan. 6, 2017) — Yokohama Rubber Co. Ltd. is buying Aichi Tire Industry Co. Ltd., a Japanese producer of solid industrial tires, in order to strengthen its position in that product sector.
Aichi Tire, headquartered in Komaki, Aichi Prefecture, manufactures solid and press-on tires for industrial machinery, including forklifts, at plants in Komaki and Kasugai.
The firm's annual sales are in the $65 million range, according to Yokohama.
Terms of the deal were not disclosed; Yokohama expects to complete the acquisition by March.
The 75-year-old company supplies its products primarily to Japanese industrial machinery manufacturers.
Yokohama noted that this deal is in line with provisions outlined in its Grand Design 100 management plan, and follows last year's acquisition of OTR tire maker Alliance Tire Group B.V. and its decision to build a truck tire plant in the U.S.