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Business deals

Yokohama Rubber pursues biggest acquisition with $2.3bn Trelleborg deal

Japan's No. 3 tiremaker looks to speed shift into farm and industrial tires

Yokohama Rubber is Japan's third-largest tiremaker and ranks 8th worldwide in automotive tires.

TOKYO -- Facing stiff competition in automotive tires from China and South Korea, Japan's Yokohama Rubber accelerated its push into the industrial and agricultural markets with a 2.1 billion euro ($2.31 billion) acquisition of Sweden's Trelleborg Wheel Systems announced Friday.

The takeover, which is subject to review by competition regulators, is set to be Yokohama Rubber's largest, overtaking the $1.18 billion acquisition of farm tire maker Alliance Tire Group in 2016. The purchase will make the Japanese company one of the world's biggest makers of agricultural tires.

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