Yokohama fiscal 2016 sales, income down

TOKYO—Yokohama Rubber Co. Ltd. suffered a 22.4 percent drop in operating income for the fiscal year ended Dec. 31 on a 5.3 percent decline in sales.

The Japanese tire maker cited “adverse conditions” in overseas tire markets, including the appreciation of the yen and declining prices, for the earnings decline.

Operating income slid to $398.4 million, while sales dropped to $5.61 billion despite the addition of six months of revenue from Alliance Tire Group. The operating ratio dropped one and a half points to 7.1 percent.

Net income fell 48.3 percent to $177 million.

Read the source article at Rubber and Plastics News

Yokohama inks Spartan Race sponsorship

SANTA ANA, Calif. (Feb. 22, 2017) — Yokohama Tire Corp.’s Geolander light truck tire line will take the sponsorship spotlight as part of a multi-year deal with Spartan Race, an obstacle course and endurance brand.

The new contract makes Yokohama the “Official Tire of the U.S. Spartan Race” and gives the Japanese tire manufacturer branding designation at select obstacle course races across the U.S this year. Among those races are the five Spartan Race U.S. Championship Series events that will air on the NBC Sports Network and the 2017 Reebok World Championship on Sept. 30, which will be televised on NBC.

“Yokohama’s sponsorship of Spartan Race marks the convergence of two like-minded global brands, and illustrates the massive growth and appeal of the obstacle course racing sport and Spartan endurance lifestyle as an integrated sponsorship platform,” Ian Lawson, Spartan Race vice president of sponsorship and media sales, said in a news release. “We are excited about our partnership with Yokohama and look forward to testing our competitors’ strength against the Yokohama tires on the course.”

Read the source article at Tire Business

Yokohama Partners with Spartan Race

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Yokohama has signed a multi-year sponsorship agreement and is now the “Official Tire of the U.S. Spartan Race,” an exclusive branding designation at select obstacle course races across the U.S. in 2017, including the five Spartan Race U.S. Championship Series events that will air on NBC Sports Network and the 2017 Reebok World Championship on NBC.

Read the source article at Autosphere.ca

Yokohama Increases All Tire Prices

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Yokohama Tire Corporation announced that it will increase prices by up to 7% on all of its tires sold in the U.S., including commercial, off-the-road (OTR), and consumer. The increase will go into effect April 1.

“This pricing action is necessitated by the high cost of raw materials and freight expenses that have impacted us in 2016 and will continue to be a factor in the business,” said Rick Phillips, Yokohama Tire vice president of sales.

Read the source article at Work Truck Online

Global Radial OTR Tires Market Analysis & Forecast to2017-2021

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The report aims to provide an overview of Global Radial OTR Tires Market along with detailed segmentation of market by component, application, deployment type, industry vertical and five major geographical regions. Global Radial OTR Tires Forecast by Regions (2017-2021), Global Radial OTR Tires Forecast by Type (2017-2021), Global Radial OTR Tires Forecast by Application (2017-2021)

Read the source article at openPR.com

USW, importers face off at ITC duties hearing

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WASHINGTON (Jan. 26, 2017) — Depending on who’s talking, truck and bus tires imported from China are either underpriced and subsidized products that have snatched market share from domestic manufacturers or are products that have little substitutability with U.S.-produced tires.

These were the opposing views presented at the Jan. 24 hearing at the International Trade Commission (ITC). This hearing represents the ITC’s final public consideration of whether imported Chinese truck and bus tires have caused material injury to the U.S. truck and bus tire industry.

The United Steelworkers (USW) union filed petitions in January 2016 with the ITC under Sections 701 and 731 of the Trade Act, requesting antidumping and countervailing duty relief against Chinese truck and bus tire imports.

Read the source article at Tire Business

Global Tire Industry

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This report analyzes the worldwide markets for Tires in Thousand Units for the OEM and Replacement Categories by the following Segments: Passenger Cars, Trucks (Light Trucks, Medium/Heavy Trucks), Buses {Two-Wheelers, Aircraft, and Off-Road-Vehicles (Industrial & Utility Vehicles, & Farm Implements)}. The report provides separate comprehensive analytics for the US, CanadaJapanEuropeAsia-PacificMiddle East & Africa, and Latin America. Annual estimates and forecasts are provided for the period 2015 through 2022. 

Read the source article at PR Newswire

Yokohama hires Jeff Barna as COO

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SANTA ANA, Calif. (Jan. 13, 2017) — Yokohama Tire Corp. has hired automotive industry veteran Jeff Barna to be its chief operating officer, responsible for sales, marketing and product planning.

Mr. Barna has held management, sales and logistics positions over the past 32 years at a number of companies, including Nilfisk-Advance Inc., an international company in the professional cleaning products and service industry; Exide Technologies, a global battery manufacturer; and Tenneco Automotive.

He will join Yokohama on Jan. 16 and report to YTC President Shinichi Takimoto, who praised Mr. Barna’s extensive experience in the auto aftermarket business, noting that he sold a range of products to many of the same companies that Yokohama sells to.

The COO position has been vacant since early 2016 when Takayuki Hamaya was named president of Yokohama Russia L.L.C. He had been COO of YTC since 2012.

Read the source article at Tire Business

Yokohama to Acquire Japanese Industrial Tire Manufacturer Aichi Tire

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Yokohama Rubber Co. has made an agreement to acquire all of the shares of the Japanese industrial tire manufacturer, Aichi Tire Industry Co., strengthening Yokohama’s place in the industrial tire market.

Headquartered in Komaki, Aichi, Aichi Tire manufactures press-on and solid tires for industrial machinery such as forklifts and has an extensive clientele of industrial machinery manufactures in Japan, Yokohama said.

Read the source article at Tire Review

Yokohama makes senior management changes

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The Yokohama Rubber Co., Ltd, made a personnel and board member change at a meeting held on 27 December 2016. The change will be effective as of 1 January 2017.

The firm has appointed new senior management officer, Gota Matsuo. Previously the General Manager, Head of Corporate Finance & Accounting, and Senior Managing Director of Yokohamagomu Finance Co., Ltd.

Read the source article at Tyrepress