As of May 2, Yokohama has completed the acquisition of all outstanding shares of Trelleborg Wheel Systems Holding (TWS), a Swedish manufacturer of off-highway tires for agricultural and industrial machinery, from Trelleborg.
The TWS acquisition is part of Yokohama Rubber’s strategic initiatives to expand its OHT business, which is positioned as a future growth driver for the company’s commercial tire business under Yokohama’s Transformation 2023 (YX2023) management plan for FY 2021–FY 2023.
The acquisition will bring Yokohama’s consumer-to-commercial tire sales ratio in line with its target of 1:1 – from the current 2:1 ratio weighted toward consumer tires.
“The acquisition fits perfectly with our medium-term management plan, YX2023,” said Masataka Yamaishi, Yokohama Rubber president and chairman of the board. “TWS’s wide range of products and brand portfolio, global sales and manufacturing footprint, service scheme, leading technology and skilled people will enable us to consolidate our position among the top tire producers in the world, moving up in the rankings of the world’s largest tire producers. We warmly welcome the successful team from TWS into the Yokohama Rubber Group and are excited to work together in the future.”
“TWS has during the past few years more than doubled in size and substantially increased its profitability,” added Peter Nilsson, Trelleborg president and CEO. “Today the business is in great shape. There is an ongoing consolidation in the OHT sector, and TWS will be a valuable complement to Yokohama Rubber’s existing offering in a multiple of dimensions. I would like to extend a big and heartfelt thank you to all employees in TWS and wish them and Yokohama Rubber every success in their new corporate constellation.”