Yokohama Rubber Announces Auto Parts Manufacturing and Conveyor Belt Joint Ventures in China.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Nov 11, 2005 - (JCNN JCNN Japan Corporate News Network ) - Yokohama Rubber announced on November 10 that it has established Yamasei Automotive (Foshan) Co., Ltd., a new joint venture company with Toyoda Machine Works and Yamasei Kogyo, in South China. Initially, the new company, which is scheduled to commence full-scale operations in December, plans to manufacture and ship power steering power steering n. A device driven by the engine of a vehicle that facilitates the turning of the steering wheel by the driver. power steering Noun pipes to Toyoda-Koki Automotive (Fushan) Co., Ltd., a subsidiary of Toyota Machine Works established in December 2004. Further, the new company will begin supplying automotive parts to Japanese automotive manufacturers in China in April 2006. At the same time, the company also announced that it will establish a joint venture company Shandong Yokohama Rubber Industrial Products Co., Ltd. in Feifang, Shandong Province, China, in January 2006. The new company will be co-established by Yokohama Rubber (China), the company's holding company in China, and Shandong Yuema Rubber Belt, a Chinese conveyor-belt manufacturer, will manufacture and sell conveyor belt conveyor belt One of various devices that provide mechanized movement of material, as in a factory. Conveyor belts are used in industrial applications and also on large farms, in warehousing and freight-handling, and in movement of raw materials. products under the brand of Yokohama Rubber. The joint venture will begin manufacturing steel cord conveyor belts in June 2006 and fabric conveyor belts in the fall 2006. Yokohama Rubber (China) will hold a 51% stake in the new company, which will be capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. at $9.7 million, and Shandong Yuema Rubber Belt will retain the remaining 49%. Through theses means, Yokohama Rubber aims to strengthen the production and sales of conveyor belt products targeted at China and overseas. Source: JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) http://www.japancorp.net Copyright [c] 2005 Japan Corporate News Network. All rights reserved. |
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