TOKYO—Yokohama Rubber Co. Ltd. signed a master technological alliance agreement Feb. 15 with South Korea’s Kumho Tire Co. Inc. that defines the framework and purpose of the firms’ proposed technology alliance.
The agreement paves the way for further discussion of the details of the proposed technology tie-up between the two companies. The master agreement is the result of discussions between the companies following the signing of a memorandum of understanding on Nov. 29.
The companies said the alliance will help them increase their competitiveness in the global tire market by sharing research and development resources and making more effective use of them through joint R&D on tire-related technologies, including environmental technology.
Under the agreement, Japan’s Yokohama and South Korea’s Kumho will conduct detailed discussions on various other contracts, including a cooperative R&D agreement and a licensing and technology exchange pact, that set forth the details of their technology alliance.
The companies also will proceed with discussions on a proposed capital alliance based on cross-shareholdings.
Source: rubbernews.com
