Yokohama increases production of tires for special equipment

Yokohama TWS has increased the capacity of its agricultural and forestry tire plant in Spartanburg, South Carolina, USA by 20%, the tire manufacturer's press service reported.

The company notes that players in various industries are striving to localize production in regions with high demand to protect themselves from potential supply chain disruptions, reduce logistics costs and import duties, and ensure progress in sustainable development. "The tire industry is no exception, but here we are seeing not only localization but also expansion of production, especially in the segment of tires for specialized equipment," add Y-TWS. "In this regard, the 40,000 sq.m Trelleborg Tyres plant [TWS was acquired by Yokohama in 2023] is an excellent example of how localized production has created conditions for business growth and simultaneously contributed to market development."

According to Y-TWS, the North American agricultural tire market was valued at over $930 million in 2023 and is expected to grow to $1.3 billion by 2030 due to factors such as agricultural mechanization, expansion of farms, increased yields, etc.

"We asked ourselves: 'How have market requirements changed compared to what they were 10 years ago?' and the research results prompted us to further expand our range of flotation tires, modernize production processes, and increase benefits for consumers," said Marco D'Angelo, Vice President of Production at Y-TWS. "Now, the capacity of the Spartanburg plant is 20% higher than at the time of its launch, and we are more confident than ever that we can meet market demand, and our customers in North America can easily purchase Trelleborg tires made in the USA."

It was recently announced that Yokohama will buy Goodyear's OTR tire business for $905 million.