Yokohama breaks ground in Russia

ERJ staff report (DS)

Lipetsk, Russia -- The Yokohama Rubber Co., Ltd. held a groundbreaking ceremony on March 23, 2010 in the Lipetsk Special Economic Zone (SEZ) in the region of Lipetsk, Russia.

A total of more than 50 people including Governor of the Lipetsk Region and Shinichi Suzuki, Managing Corporate Officer of Yokohama Rubber participated in the ceremony. In his greeting speech, Suzuki said, "Yokohama Rubber and Itochu Corporation jointly established Yokohama Russia, a tyre sales company, in 2005 in the region of Moscow, which since then has increased sales at a steady pace, making Russia an important market for Yokohama Rubber. Construction of the new tyre plant is aimed at delivering highest quality tyres to every corner of Russia as soon as possible.

Established in December 2008, Yokohama R.P.Z. is currently capitalized at 1.84 billion ruble (approx. 5.7 billion yen) with investment ratios being 80 percent by Yokohama Rubber and 20 percent by Itochu . A 43,000 square-meter passenger-car tyre plant is to be constructed with an investment of 4.8 billion ruble (approx. 14.8 billion yen) in a site of 24 hectares. The plant is scheduled to begin operation by the end of 2011 with an annual production capacity of 1.4 million tyres.

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Press release from Yokohama