YOKOHAMA Rubber Co., announces that today, May 2nd, it has completed the acquisition of all shares in Trelleborg Wheel Systems Holding AB (‘’TWS’’), a Swedish company engaged in in the manufacture and sale of off -road tires (hereinafter referred to as OTH) for agricultural purposes. And industrial machinery from Trelleborg AB, announced on 25 Marth 2022. From the second quarter of fiscal year 2023, YOKOHAMA Rubber’s consolidated financial statements will include TWS, the predicted impact of which is currently under examination.
The acquisition of TWS is part of YOKOHAMA Rubber’s strategic initiatives and plans aimed at expanding the OHT business outlined in Yokohama Transformation 2023 (YX2023), the company’s mid-term governance plan for FY2021-FY2023.
Commented by Masataka Yamaishi, President of Yokohama Rubber, Chairman of the Board:
“The acquisition fits perfectly into our YX2023 mid-term management plan. TWS’ wide range of products and portfolio of brands, global sales and manufacturing, service system, cutting-edge technology and skilled people will allow us to consolidate our position among the world’s leading tire manufacturers and move up the ranking of the world’s largest tire manufacturers. We warmly welcome the successful team from TWS in YOKOHAMA Rubber Group and are excited to work together in the future.”
Peter Nilsson, President and CEO of Trelleborg AB, commented:
‘’TWS has more than doubled in size in the last few years and has substantially increased its profitability. Today, the company is in great shape. Consolidation is underway in the OHT sector and TWS will be a valuable addition to Yokohama Rubber ‘s existing offerings in many sectors. I would like to express my big and heartfelt thanks to all employees at TWS and wish them wish them and YOKOHAMA Rubber every success in their new corporate structure.’’
Source: Yokohama Rubber Co., Ltd. May 2, 2023
