Yokohama Rubber to acquire ATG and start production of marine hoses in Italy

The Yokohama Rubber Co., Ltd. announced that it has agreed with global investment firm KKR and other concerned parties to purchase all of the shares of Alliance Tire Group (ATG).

The company is specialised in the manufacture and sale of radial and bias tyres for agricultural, industrial, construction, and forestry machinery in 120 countries around the world, with a focus on the North American and European markets. The agreed equity value of the transaction is approximately USD 1.2 billion. The acquisition is expected to be finalised on 1 July 2016.

 

Furthermore, Yokohama Rubber announced that its Italian marine hose subsidiary, Yokohama Industrial Products Italy S.r.l. (YIPI), will begin production and sales of Seaflex brand marine hoses used during marine transport of crude oil and petroleum products. The plant was recently certified as compliant with GMPHOM 2009, a standard established by the Oil Companies International Marine Forum (OCIMF). Yokohama Rubber had acquired the Italian company Parker MHP S.r.l. from its US parent company Parker Hannifin Corporation in September 2014 and subsequently changed its name to YIPI.