Tokyo, Japan – The Yokohama Rubber Co., Ltd., announced that on May 6 its European headquarters, Yokohama Europe GmbH, signed an agreement to acquire a 100 percent equity stake in Poland’s ITR CEE Spółka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tires in central and eastern Europe. The acquisition was scheduled to be concluded on May 14, after which the Polish company’s name will be changed to Yokohama CEE Spółka z.o.o.
Yokohama Rubber has been working with the Polish company to expand sales of Yokohama tires in Poland and throughout central and eastern Europe. Adding it to the corporate Yokohama tire sales network in Europe will facilitate further expansion of Yokohama’s market share and strengthen the group’s business foundation in the growing market of central and eastern Europe.
Yokohama Rubber is now implementing Yokohama Transformation 2023 (YX2023), a new three-year management plan launched this February. Under this plan, the consumer tire business aims to maximize the sales ratio of its core high value added tires, comprising the global flagship Advan brand, the Geolandar brand of tires for SUVs and pickup trucks, and various winter tires. Toward that goal, the business is expanding the size lineups for these tires and implementing product and regional business strategies that will increase sales of tires that respond to specific trends in each regional market.