Yokohama Rubber Ltd.Yokohama Yokohama (yō'kōhä`mä), city (1990 pop. 3,220,331), capital of Kanagawa prefecture, SE Honshu, Japan, on the western shore of Tokyo Bay. Rubber Ltd., Tokyo, Japan, and Continental AG, Hanover Hanover, city, GermanyHanover, Ger. Hannover, city (1994 pop. 524,820), capital of Lower Saxony, N Germany, on the Leine River and the Midland Canal. , Germany, signed a letter of intent in order to do worldwide tire business activities more closely in the future. As an essential element of this letter of intent, a 50/50 joint venture is to be set up in Japan by the end of the year. The joint venture will focus on Japanese automakers in bundling the joint activities of the two companies for the worldwide benefit of these original equipment customers. In the letter of intent, the two companies also are committed on stronger cooperation in tire production, above all in the NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's area, and on technological collaboration Working together on a project. See collaborative software. . Yokohama will help support Continental in expansion of the latter company's replacement tire business in the Japanese market. The two companies will look for synergies, including in the area of purchasing. |
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