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27 Aug, 2009 11:12

Yokohama Rubber and Itochu sign up for tyre plant in Lipetsk region

Yokohama Rubber and Itochu sign up for tyre plant in Lipetsk region

Japan’s Yokohama Rubber and Itochu Corporation have agreed to build a 4.8 billion rouble tyre plant in the Lipetsk region.

The plant will be constructed in a Special Economic Zone in the region, 500 klm south of Moscow, and when completed will have a capacity of 1.4 million tyres per year. Construction is scheduled to commence in March 2010, at a 24 Hectare site, with plant completion scheduled for September 2011.

The company which will build the plant and market the tyres will be 80% owned by Yokohama with the other 20% owned by Itochu, and has a charter capital of 3.76 billion roubles. The two companies have also agreed to increase Itochu’s investment into Yokohama Russia to 20%.