Yokohama Rubber starts Chinese joint ventures.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, 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, has established Yamasei Automotive (Foshan) Ltd., a joint venture company with Toyoda Machine Works and Yamasei Kogyo in south China. The company initially 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) Ltd., a subsidiary of Toyota Machine Works. The company will begin supplying automotive parts to Japanese automotive manufacturers in China in April 2006. At the same time, Yokohama Rubber also announced it will establish a joint venture company, Shandong Yokohama Rubber Industrial Products Ltd., in Feifang, Shandong Province, China, in January. The company will be co-established by Yokohama Rubber (China), the firm's holding company in China, and Shandong Yuema Rubber Belt, a Chinese 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. manufacturer, and will manufacture and sell conveyor belt 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 of 2006. Yokohama Rubber (China) will hold a 51% stake in the 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%. |
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