Recently, Yokohama Rubber Co., Ltd. from Japan invested 20 million U.S. dollars (about 130 million yuan) in April to form Singapore Rubber Co., Ltd. The new company plans to begin full operation in mid-May 2015.
Youke Haoma Rubber Co., Ltd.
Previously, Yokohama has already owned a branch in Singapore to engage in the procurement of natural rubber in Southeast Asian countries. The tire manufacturer decided to work hard to increase the efficiency of its raw material purchasing functions on a global basis and establish a Singapore subsidiary, the company said.
Yokohama Singapore Rubber Company will engage in rubber procurement and incorporate the natural rubber business in FY2015 to a Japanese factory, but the plan is to expand its natural rubber purchases in 2016 also covering the needs of all YRC overseas factories.
The existing Singapore office will continue to operate until it completes the switch of its functions to the new subsidiary.
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