Yokohama has announced that it plans to gradually stop production at its Russian subsidiary LLC Yokohama RPZ which manufactures tires for passenger cars.
According to the Japanese tiremaker, the reason behind the closure is the current challenge experienced by many manufacturers in procuring raw materials. This is largely due to the ongoing war in Ukraine.
“Yokohama Rubber hopes that the situation in Russia and Ukraine will be resolved as soon as possible and that the peace and safety of all people will be secured,” it added.
LLC Yokohama RPZ started operations in Russia in 2012 and has 733 employees. The plant makes 1.6 million Yokohama tires a year.