ERJ staff report (RD)
Tokyo, Japan - The Yokohama Rubber Co., Ltd., has announced the establishment of a new overseas subsidiary called Yokohama Rubber Latin America Comercio Ltda. In Sao Paulo, Brazil.
Beginning in May, the new subsidiary aims to enhance marketing activities in Latin America, including the development of local sales channels for expanding tire sales. Capitalized at approximately 1.1 million Brazil reals ($600 000), the new company is a joint investment by Yokohama Rubber and Yokohama Europe GmbH.
According to the company, In recent years, Yokohama Rubber has strengthened its tyre sales activities in Latin America including Brazil, Argentina and Chile, boosting tyre sales volume in the market nearly 4 times in 5 years until 2007. As a result, the Japanese tyre maker decided to establish a business base in Brazil, the largest market in Latin America to stimulate further sales growth and marketing activities focusing on high-performance passenger car tyres. With the establishment of the new company, Yokohama Rubber closes its representative office in Panama.
Press release from Yokohama