The Japanese Tyre Maker Combines Operations, Eyes Second-Place Position in Off-The-Road (OTR) Tyre Segment.

Yokohama Rubber Co. is betting big on heavy machinery tyres. The Japanese manufacturer completed its USD 905 million acquisition of Goodyear Tyre & Rubber Co.’s off-the-road (OTR) tyre business in February and has already begun an aggressive expansion strategy that includes a USD 35 million Romanian plant purchase and the appointment of veteran industry executive Loic Ravasio to lead the combined operations.

These moves elevate Yokohama to third in the global OTR market, but ambitions are set higher. Loic Ravasio, now president of Yokohama’s combined OTR business, has made it clear that the goal is to become the world’s second-largest supplier of specialised tyres for mining and construction.

“The essence of the acquisition is to grow and gain market share and not only to maintain our 3rd position but aim to be number two in the near future,” Ravasio said. “We have the people, the knowledge and the products for it.”

The acquisition represents the largest strategic investment under Yokohama’s ‘Hockey Stick Growth’ initiative, part of its Yokohama Transformation 2026 medium-term management plan. The deal brought Yokohama not just Goodyear’s extensive product lineup – spanning tyre diameters from 25 inches to ultra-large 63-inch models – but also advanced manufacturing technologies, established brand recognition and approximately 500 specialised employees.

STRATEGIC COMPLEMENTARITY

Goodyear OTR achieved USD 678 million of annual sales as of fiscal 2023, bringing important scale to Yokohama’s off-highway tyre business. However, above and beyond the revenue increase, Ravasio highlights how the two operations are complementary both geographically and in terms of product specialisation.

“The two businesses literally complement each other from a product point of view as well as presence point of view,” Ravasio explained. “Goodyear OTR is strong in Europe, APAC and Canada, whereas Yokohama OTR is strong in the US and Japan. Goodyear OTR has excellent ultra large haulage tyres, whereas Yokohama has mobile crane and port tyres.”

This product and geographic synergy is the basis for Yokohama’s strategic challenge to entrenched market leader Michelin and Bridgestone. The merged company now has what Ravasio terms “a broad, complete OTR portfolio offering from the smallest to the biggest tyres, delivering top performance and services in any application.”

The integration extends beyond product lines to leverage operational efficiencies in procurement, manufacturing, finance and legal operations. Yokohama has preserved the key intellectual property, seasoned personnel and service capabilities that made the Goodyear OTR business worth acquiring while introducing its global organisational strengths to increase operational effectiveness.

EUROPEAN EXPANSION STRATEGY

Yokohama’s drive for expansion was evident just months after it sealed the acquisition of the Goodyear OTR business. In May 2025, the company paid USD 35 million to purchase fixed assets, including land, buildings and manufacturing equipment, at a closed tyre factory in Drobeta-Turnu Severin, Romania.

The facility, Yokohama’s first significant European production site for OTR tyres, covers 200,000 square metres and will manufacture the full range of mining and construction tyres, including ultra-large sizes for global mining operations.

“The Romanian asset is a first step in the expansion,” Ravasio said. “We will be producing most of the OTR range in this factory, including the ultra-large tyres. We are working diligently on assessing solutions such as green field and/or brown field at the right locations to further grow and better serve our customers.”

The Romanian investment timing is part of a larger market trend behind the demand for OTR tyres. Global infrastructure development in roads, rails and residential projects continues to grow with the transition towards the green economy, which necessitates huge volumes of mineral extraction to produce electric vehicle batteries and renewable energy systems.

“These growing needs are driven by a growing world population that needs more housing, more roads, more communication means, plus the push for green(er) economy with the electrification of the world,” Ravasio noted.

INNOVATION THROUGH DUAL R&D CENTRES

The acquisition provides Yokohama with two R&D facilities, one in Japan and the other in the US. Rather than merging them, the company will utilise both to accelerate innovation and share best practices globally.

“Having two R&D centres will accelerate and intensify our innovation while learning best practices and continuously improve our overall performance,” Ravasio explained. The collaboration has already yielded practical benefits, with engineers able to combine Yokohama OTR casings (the structural base of the tyre) with Goodyear OTR tread compounds to enhance tyre performance.

The dual-centre approach addresses the complex technical challenges in OTR tyre development. These products must withstand extreme operating conditions while delivering optimal performance metrics that directly impact customers’ operational costs. As Ravasio puts it, “OTR tyres remain a complex assemblage of diverse technologies and solutions to deliver the required performance.”

Innovation priorities are driven to address changing customer needs for performance, sustainability and service. Industry pressure towards ‘Faster/Further/Heavier’ operations creates greater stress on tyre manufacturers to produce products capable of supporting more rigorous applications while being reliable and cost-effective.

MARKET DYNAMICS AND CUSTOMER EVOLUTION

Different principles from consumer tyres drive the OTR tyre business. Buyers – mainly from the mining, construction and infrastructure sectors – prioritise the total cost of ownership, which presents opportunities for manufacturers focused on durability and service.

“The OTR tyre market is very dynamic by nature. The industry has always been driven by the best cost of ownership,” Ravasio said. “The products, services and solutions provided must help our customers to optimise their operations.”

This emphasis on operational efficiency has grown stronger as customers are under pressure to be more efficient and less environmentally aggressive. Environmental concerns now influence the choice of tyres, prompting manufacturers to develop solutions that offer both performance and environmental friendliness.

Yokohama’s sustainability strategies involve lower-resistance compounds, improved materials, energy-efficient manufacturing and total retreading solutions. It has the industry’s sole OTR retread factory owned by a tyre manufacturer, and through this, it offers customers the opportunity to extend tyre life and minimise waste.

INTEGRATION CHALLENGES AND OPPORTUNITIES

Successfully integrating two large tyre operations presents significant operational and cultural challenges. Yokohama’s approach prioritises continuity for both customers and employees during the transition period.

“Our immediate priorities are and always will be our customers and our employees,” Ravasio emphasised. “For our customers, we aim to ensure a smooth transition, business continuity and a combined, more comprehensive portfolio of products, services and solutions to support them in their business growth.”

Employee integration focuses on creating development opportunities within a larger global organisation. Yokohama retained all Goodyear OTR personnel, recognising that their expertise and customer relationships represent much of the acquisition’s value.

“The critical parts of this acquisition were the IP knowledge, the experience and the people more than the equipment and the products. We kept all of that,” Ravasio said. The company has established a global leadership team combining experienced executives from both organisations to design the integrated structure and manage the transition process.

FINANCIAL TARGETS AND GROWTH STRATEGY

Yokohama prioritises market share gains and customer satisfaction over raw revenue for the merged OTR business. The growth strategy focuses on targeted investments in key geographies and technologies to enhance performance and quality at a cost-effective level.

The financial effect of the acquisition will start to be reflected in Yokohama’s consolidated performance from the first quarter of 2025. The company is now determining the exact earnings contribution as the integration continues.

Ravasio’s appointment to the post of president of the merged OTR operations marks a commitment by Yokohama to aggressive expansion. Ravasio reports to Nitin Mantri, Co-Chief Operating Officer and Head of the Off-Highway Tyre Unit, and will leverage his global tyre industry expertise to lead the next phase of growth.

“I’m humbled and excited to take on this important role at Yokohama, a company focused on growth and expansion,” Ravasio said upon his appointment. “We have a great future ahead, with the best associates in the industry and an outstanding value proposition to serve our customers.”

FUTURE MARKET POSITION

The long-term development curve of the global OTR tyre market underpins Yokohama’s ambitious expansion goals. The development of world infrastructure and the mineral extraction needs of the unfolding green economy transition are expected to sustain demand for heavy-duty tyres in various applications.

Yokohama aims to capitalise on OTR market growth to steal share from larger rivals. By combining Yokohama’s operations, Goodyear’s customer base and expertise and targeted manufacturing investment, executives believe they have a winning formula.

“As we invest in growth, our expansion strategy is based on the right location and the right technology/equipment to deliver top performance and quality and the right cost,” Ravasio explained.

The global reach of the company offers flexibility to supply customers in diverse markets while maximising production and distribution networks. With secure positions in complementary geographic locations and product categories, the integrated operation can provide end-to-end solutions to multinational customers engaged in multiple markets.

INDUSTRY OUTLOOK AND COMPETITIVE RESPONSE

The next three to five years will pose a challenge to Yokohama’s capacity to implement its aggressive growth strategy in a more competitive market. Its peers will not surrender market share without reacting to Yokohama’s improved competitive footing.

Achievement will depend on continued technological progress in tyre compounds, manufacturing techniques and digital technology to achieve progressively higher performance standards. The development of the industry towards more sustainable, more technologically sophisticated products presents opportunities as well as challenges for all producers.

“In the today and tomorrow of the OTR tyre market, it will be crucial to continue innovating in compounding, manufacturing processes and digital technologies to meet the evolving and stringent needs of the industry,” Ravasio observed.

Yokohama’s dual R&D centres and expanded global presence provide tools to compete effectively. Still, execution will determine whether the company can achieve its goal of becoming the world’s second-largest OTR tyre supplier.

For now, the company expresses confidence in their strategy and capabilities. As Ravasio puts it: “We look forward to celebrating it when we will be a strong number two in the near future.”

Marangoni has reinforced its OTR division as of January 2026 with the key hires of Eduard Mundt and Dominik Hörmann. Mundt will apply his extensive technical knowledge and industry experience to serve and build partnerships with OTR customers across Southern Germany. Hörmann, an expert in both OTR and TBR segments with specialised retreading knowledge, will oversee operations in Northern, Central and Western Germany, supporting the core OTR business and segments of the TBR market.

This strategic expansion underscores the company’s commitment to deepening its local engagement with both dealers and end users. By enhancing direct customer relationships and fortifying its regional footprint, Marangoni aims to solidify and sustainably grow its standing in the market.

Nokian Tyres has named Timo Koponen as its incoming Chief Financial Officer and a member of the Management team. He is scheduled to assume the role by 15 April 2026 and will report directly to President and CEO Paolo Pompei. The company’s interim CFO, Jari Huuhtanen, who serves as VP of Group Business Control, will continue in that capacity until Koponen officially begins.

Koponen brings extensive financial and executive experience to Nokian Tyres, most recently serving as the CFO and a member of the Leadership Team at Normet, a prominent global provider of mining and tunnelling technology. His professional background includes a series of senior roles in finance and business leadership across several industrial corporations. Before his tenure at Normet, he held significant positions at Lamor Corporation, Wärtsilä, Hackman and Konecranes.

Koponen holds degrees in Master of Science in Economics and Business Administration. His appointment is part of Nokian Tyres' strategic leadership planning, ensuring a structured transition in its financial leadership.

Paolo Pompei, President and CEO, Nokian Tyres, said, “I am pleased to welcome Timo Koponen to Nokian Tyres. His extensive experience in finance and operations within publicly listed companies, combined with his leadership in international business and major transformations, will be a valuable asset as we move into the next stages of our development. I also want to express my sincere gratitude to Jari Huuhtanen for his outstanding contribution as interim CFO and his role as a strong partner in our transformation. I look forward to continuing our journey together with Jari as a key leader within Timo’s team.”

Magna Tyres Group has appointed Ruud Leijtens as the new Sales Manager for Scandinavia. In this position, he will dedicate his efforts to expanding the company's network across the Scandinavian region.

Leijtens will focus on building strong partnerships with customers and creating new opportunities for the brand. The company considers his experience and energy a valuable addition to the team and looks forward to strengthening its commercial activities in Scandinavia with him on board to achieve its strategic goals for the market.

The Indian Rubber Institute (IRI), a non-profit professional body focussing on the tyre and rubber industry, has officially announced its flagship biennial conference, ‘IRI-CON’26’. IRI Gujarat and Rajasthan Branch have jointly organised the event. 

Scheduled to take place on 30th and 31st January 2026 at the Hotel Sayaji in Vadodara, Gujarat, the event serves as a critical junction for technocrats, researchers, and industry leaders to navigate the sector's rapidly evolving technological and sustainability priorities.

The choice of Vadodara as the host city underscores Gujarat’s status as a formidable powerhouse for elastomers and rubber manufacturing. The region serves as a strategic base for global and domestic tyre giants, including Apollo Tyres, CEAT, BKT, MRF and JK Tyre & Industries, while hosting a robust network of suppliers specialising in carbon black, silica, textiles and rubber chemicals. 

IRI-CON' 26' is supported by Ravi Enterprises, Kobelco Industrial Machinery India, Panama Petrochem, Pukhraj Additives and Beakert Industries as Platinum sponsors. Rajsha Chemicals, Madhu Silica, Balkrishna Industries and Madura Industrial Textiles are the Gold sponsors. On the other hand, Singh Plasticisers and Resins, Raj Petro Specialties, Nynas Napthenics, OCCL, 20 Micros, Sampann Utpadan India, ISRPL, Polyplas Global, Aksharchem India, Rubber King Tyre and Northwest Group are Silver Sponsors.

Lanxess India, Witnmans Industries, Epsilon Holdings, Kuraray India, Rubamin, Tinna Rubber and Infrastructure, Chem-Trend Chemicals, Dawsun Exim Corp, JK Tyre & Industries, Galaxy Chem & Machiner, Gujarat Bondchem and Silox India are the Bronze sponsors.

Lastly, MLA Industries, FINORCHEM, Tata Chemicals, Reliance Industries and DCM Shriram Chemicals are the Supporter for the event.

Against this backdrop, the conference theme – ‘Unlocking the Potential of Sustainable Developments in Rubber and Allied Industries’ – reflects an urgent industry-wide commitment to resource efficiency, circular economy principles and responsible manufacturing.

High-Profile Inauguration and Strategic Vision

The conference will commence with a high-powered inaugural session dedicated to global trends and strategic updates. This session features a line-up of some of the most influential figures in the Indian rubber ecosystem. Dr Sujith Nair, Chairman, IRI Gujarat and VP R&D, CEAT, will deliver the welcome speech.

V K Misra, Chairman of IRI and representative of JK Tyres & Industries, will open the proceedings with a vision for the institute’s role in future-proofing the industry. He will be joined by Vasantagesan, IRS, Executive Director of the Rubber Board and Dr R Mukhopadhyay, who will provide a comprehensive overview of global sustainability trends.

Further technical leadership will be provided by Renji Issac, Chairman of ITTAC and representative of CEAT and P K Mohamed, Emeritus Chairman of IRI. The academic foundation of the event is bolstered by the presence of Prof. Dr Kinshuk Naskar from IIT Kharagpur – the institute's long-term partner for technical certification – and Prof. Dr Sabu Thomas of MG University, ensuring a seamless bridge between cutting-edge research and industrial application.

Innovations in Green Chemistry and Circularity

The event will also dive deep into technical breakthroughs that are reshaping the tyre value chain. A significant focus will be placed on ‘Green Tyres’ and the reduction of environmental footprints. Key presentations will feature Bekaert Industries discussing advanced cord solutions for weight reduction, and CEAT showcasing the CIRCL90, a sustainable passenger car tyre.

The shift toward a circular economy is a recurring theme throughout the technical sessions. Epsilon Carbon and Rathi Group India (Capital Carbon) will present on the integration of recovered carbon black (rCB) and the importance of ASTM standards in ensuring market momentum for recycled materials. Meanwhile, Brisil Green Silica and Tata Chemicals are set to discuss the revolutionary transition of producing sustainable silica from agricultural waste, a move that highlights the industry's move away from traditional, energy-intensive sourcing.

A Collaborative Ecosystem

The conference serves as a global stage for a diverse array of companies, including Arlanxeo India, which will present eco-friendly elastomer solutions and Finorchem, focusing on enhancing compound performance through phenolic resin-silica coupling. Other notable participants include LANXESS, TUV Rheinland and TTRC, covering everything from bio-based additives to water-based vulcanising cements and rigorous certification standards.

As regulatory pressures and environmental expectations continue to intensify, IRI-CON’26 stands as a timely and vital forum. By aligning manufacturers, R&D specialists, and academia, the event is positioned to chart a sustainable growth pathway for India’s tyre and rubber ecosystem, ensuring it remains competitive on the global stage while meeting the highest standards of environmental stewardship.

The event will also celebrate the next generation of industry talent with a Best Student Presentation Award Ceremony on the final day.

All-in-all the event is a must-attend for industry professionals, R&D specialists and academics in the tyre and rubber industry. To register click here