The Yokohama Rubber Co., Ltd. announced that it obtained an approval from the authority of Chekiang Province, China, for the establishment of a company in Hangzhou City in the province to manufacture and market sealant for passenger car windscreens. In the Phase I program, Yokohama Rubber will construct a new production base with an annual production capacity of 1,000 tons to begin manufacture and marketing by January 2005. Furthermore, in line with the market expansion, the Phase II program will be initiated to double the production capacity within three years. The planned amount of investment is $1.5 million in Phase I and $2.2 million in Phase II .
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