ERJ staff report (LMH)
Komaki, Japan – Tokai Rubber Industries has set up a joint venture in Russia to make components such as high-pressure rubber hoses for construction machinery.
The new company, provisionally called Nikko TRI Eurasia llc, will be TRI’s first venture in Russia. Marubeni-Itochu Steel Inc. of Tokyo will be the majority shareholder with 50 percent of the company. TRI owns 20 percent, while Kihara Mfg Co. Ltd of Joso, Japan will own 5 percent.
TRI said in a…