YOKOHAMA to Terminate Technology Tie-ups with Kumho Tire
09 Aug 2018

YOKOHAMA has terminated its technology tie-ups with Kumho Tire Co., Inc., effective as of 6th July 2018.

YOKOHAMA and Kumho Tire entered into the Master Technological Alliance Agreement on 15th February 2014, and entered into the Cooperative R&D Agreement as well as the License and Technology Exchange Agreement on 31st May 2014, with the goal of working together to develop the tyre-related future technologies, including environmentally friendly tyre technologies and new concept tyres. This time, these agreements were terminated based on the terms and conditions thereof due to the recent change in Kumho Tire’s controlling shareholders.

Kumho Tire, established in1960, is headquartered in Gwangju, South Korea. Kumho Tire recorded consolidated net sales of 2,876.4 billion won in fiscal 2017. The company has eight tyre plants in South Korea, China, Vietnam and the United States and employs about 10,000 people globally.

Yokohama Rubber, founded in 1917, is engaged in the manufacture and sale of tyres and a variety of products in its MB (Multiple Business) operations and golf equipment. In fiscal 2017 (ended 31st December 2017), the company recorded consolidated sales revenue (IFRS basis) of 646.3 billion yen, with tyres accounting for 459.9 billion yen of the total. YOKOHAMA operates 14 tyre plants in eight countries around the world and employs about 25,000 people globally.

YOKOHAMA to Terminate Technology Tie-ups with Kumho Tire

2018-08-09 YOKOHAMA to Terminate Technology Tie-ups with Kumho Tire