Yokohama, Kumho Tire Reach Tech, Ownership MOU

Yokohama Rubber Co. has recently signed a memorandum of understanding with Kumho Tire Co. to start discussions on technology exchanges and a capital alliance premised on cross-shareholdings.

The two tiremakers said they aim to grow and increase their competitiveness in the global market by sharing R&D resources and making a more effective use of them through joint research and development on tires. Additionally, the two companies plan to enter into a capital alliance based on cross-shareholdings.

Yokohama and Kumho hopes to start discussing the details of the partnership – including methods for obtaining each other’s shares, size of shareholdings and timing – with the end goal of signing a legally binding contract as soon as possible, the companies said.

Discount Tire & Service Centers has a new sponsorship deal with the Los Angeles Angels for the 2024 season. Discount Tire said this partnership will not only benefit its customers with season-long promotions and giveaways but will also support local non-profits.

"We're thrilled to launch this strategic partnership with the Los Angeles Angels," said Sergio Andonian, president, Discount Tire & Service Centers. "As neighbors, from Anaheim, we are dedicated to serving our local communities and providing quality tire & automotive service at the most competitive prices. Together, we look forward to making a positive and lasting impact in the communities. Add baseball to the mix, and with this winning combination, the possibilities are endless."