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Yokohama, Kumho Tire Reach Tech, Ownership MOU

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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.

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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.

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