Kumho Tire’s CEO, Kim Chang-kyu, last week (May 17) announced that the company is making moves to broaden the agreement of co-operation it has with Yokohama, and is now looking to supply its Japanese partner with OE product sometime later this year. To that end discussions are well under way regarding the start date as well as the specifications and volumes required.
Such a deal would allow Kumho to increase the utilisation of its Chinese plants at a time of industry-wide concern over America’s intention to impose anti-dumping duties on all tyres constructed in the People’s Republic.
Kumho recently announced plans to relocate its Nanjing-based factories by 2016. Equipped with state-of-the-art technology and equipment, the new environmentally-friendly plants are likely to concentrate on the manufacture of high-end tyres in line with the changing demands on the industry. Kumho believes the competitive edge of these products will aid its proactive response to the increasingly challenging market conditions.
The Memorandum of Understanding between Kumho and Yokohama that was signed back in November 2013 has already led to the companies joining forces over the research and development of their next-generation products.
Press release issued on behalf of Kumho UK by Gordon Bruce Associates Ltd. For further press information contact Gordon via firstname.lastname@example.org.