Yokohama Rubber said it spun off the sales unit of its Vietnam tire production and sales subsidiary Yokohama Tyre Vietnam Inc. (YTVI) into a new dedicated sales company, Yokohama Tyre Sales Vietnam (YTSV). YTSV will begin operations on Jan. 1, Yokohama Rubber said. The manufacturer said it considers the ASEAN region to be a high-priority market and regards Vietnam as a growth market within the region.
The company first entered the Vietnam market in November 1997 when it established joint venture tire production and sales company. In May 2006, it established YTVI as a wholly owned subsidiary and has since raised its presence in the local market by strengthening local production and marketing of Yokohama tires. However, considering the rapid increase in demand for radial tires for passenger cars and trucks in Vietnam in recent years, Yokohama Rubber said it decided that establishing separate production and sales companies is essential to expanding its business in Vietnam.
To date, YTVI has been engaged in local production and sales of bias tires used on motorcycles, small trucks, industrial machinery and as spare tires for passenger cars, while also importing and marketing Yokohama Rubber radial tires for passenger cars and trucks, the company said.
