Latest news with #YokohamaRubber
Fibre2Fashion
12-06-2025
- Business
- Fibre2Fashion
Zeon builds plant-based rubber R&D hub in Yonezawa
Zeon Corporation (Zeon; head office: Chiyoda - ku, Tokyo; President and CEO: Tetsuya Toyoshima) has constructed a new research facility on the premises of Zeon Chemicals Yonezawa Co., Ltd. (head office: Yonezawa - shi, Yamagata; President: Kazunori Watanabe) to develop production processes for plant - derived raw materials. This facility will accelerate the development of biotechnology to produce butadiene and isoprene directly, which are key components of synthetic rubber, from plant - derived materials, with the goal of contributing to the realization of a circular economy. Zeon has built a new research facility in Yonezawa to develop biotechnologies for producing butadiene and isoprene from plant-based materials, aiding its 2030 carbon neutrality goals. Part of a Green Innovation Fund Project with Yokohama Rubber, the facility supports Japan's 2050 net-zero target and advances sustainable raw material production for synthetic rubber. Under STAGE30, the Group's Medium - Term Business Plan, Zeon has positioned ' Promote a transformation of monozukuri to realize carbon neutrality and a circular economy ' as Strategy 1 while also setting a target to reduce CO 2 emissions across the entire Group by 42% by fiscal 2030 compared to fiscal 2020 levels. By establishing this integrated research facility, which enables the simultaneous development of both chemical reaction and biofermentation processes, Zeon aims to promote monozukuri with a focus on the conversion of raw materials toward the realization of a sustainable society. New research facility This initiative is part of the 'Development of Manufacturing Technology Using Carbon Recycling for Commodity Chemicals Used in Synthetic Rubber,' a project jointly carried out by Zeon and The Yokohama Rubber Co., Ltd. (Yokohama Rubber; Chairman and CEO: Masataka Yamaishi), which has been selected under the 'Development of Technology for Producing Raw Materials for Plastics Using CO2 and Other Sources,' one of the Green Innovation Fund Projects of the New Energy and Industrial Technology Development Organization (NEDO). Through research and development at this facility, Zeon aims to commercialize biotechnology for the direct production of butadiene and isoprene from plant - based materials by 2034. This facility has been certified as eligible for support under the Yamagata Prefecture Business Location Promotion Subsidy Program and has received partial construction funding from the prefecture. NEDO's Green Innovation Fund Project The Green Innovation Fund Project is a program established by the Ministry of Economy, Trade and Industry (METI) to accelerate innovation through structural transformation of energy and industrial sectors and bold investment toward achieving the national goal of 'reducing overall greenhouse gas emissions to zero by 2050.' The program provides a continuous ten - year support to companies and organizations that pursue this goal as a business commitment in the areas from research and development, demonstration to commercial implementation. As part of a cooperative effort led by the National Institute of Advanced Industrial Science and Technology (AIST), the National University Corporation Institute of Science Tokyo (formerly the Tokyo Institute of Technology), and the national research and development agency RIKEN, Zeon and Yokohama Rubber are working on two project themes. The current initiative falls under the theme of 'Development of technology for production of butadiene and isoprene from plant - based and other sustainable materials.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Yahoo
06-02-2025
- Automotive
- Yahoo
Yokohama Rubber acquires Goodyear's OTR business for $905m
Yokohama Rubber has completed the acquisition of the Off-the-Road (OTR) tyre business from Goodyear for $905m in cash. The acquisition forms part of Yokohama's medium-term management plan, Yokohama Transformation 2026, which aims for significant growth by expanding its off-highway tyre (OHT) product offerings. The agreement, announced in July 2024, includes the transfer of all shares of Nippon Giant Tire and Goodyear Earthmover in Australia, along with other global assets. Yokohama Rubber plans to integrate the acquired business into its consolidated results starting from the first quarter of 2025. The company is currently assessing the impact of this acquisition on its consolidated earnings. Yokohama expects the deal to enhance its product lineup with a range of mining and construction machinery tires and bring in advanced technologies, professional services, and 'strong brand power'. Goodyear plans to use the proceeds from the latest transaction to 'reduce leverage' and invest in its Goodyear Forward transformation plan. Goodyear CEO and president Mark Stewart said: 'The sale of the OTR business is a significant milestone in Goodyear's transformation. 'Our portfolio is now more streamlined, driving further efficiencies and enhancing our focus on our core industry-leading products and services.' Evercore served as the exclusive financial advisor, while Sullivan & Cromwell provided legal counsel to Goodyear in this transaction. "Yokohama Rubber acquires Goodyear's OTR business for $905m" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
