Japanese tire maker Yokohama announced that it is acquiring Aichi Tire Industries. Aichi Tires is located in Aichi Prefecture, Japan. Its main business is industrial tires, such as solid forklift tires and industrial mechanical tires. The company's annual sales are around $ 65 million.
The acquisition is expected to be completed in March 2017. Yuko Haoma did not disclose specific terms of the transaction. According to Tire World, this acquisition is in line with the established strategy of Yokohama to expand its industrial tire business. In 2016, the company spent $ 1.18 billion to win ATG, a well-known Indian tire company. ATG is highly competitive in agricultural tires, industrial tires, and construction and forestry machinery tires. In addition, Yokohama spent $ 300 million to build a commercial truck tire factory in the United States.