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.
