Yokohama takes ‘asset impairment’ charge related to US plant

Tokyo – Yokohama Rubber Co. Ltd. has taken an asset impairment charge against its third quarter earnings of $102 million (€90.4 million) to account for a “reassessment” of the profitability of and business outlook for its truck tire manufacturing unit in Mississippi.

“Achieving profitability at the subsidiary has taken longer than management anticipated when production began there,” said the company in a 9-Nov statement on the situation with Yokohama Tire Manufacturing Mississippi LLC (YTMM) in West Point, Mississippi.

Yokohama went on to say that the management at…

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