All because of Russian aggression in Ukraine.
Japanese tire maker Yokohama Rubber Co is halting production at its plant in Lipetsk, Russia, which is operated by its subsidiary.
Tire Business writes, citing a company statement.
< strong>Yokohama Rubber Co said, “We sincerely hope that the situation in Russia and Ukraine will be resolved as soon as possible, and the peace and security of all people will be ensured.”
“Our highest priority is fulfilling our responsibilities to all stakeholders, including group employees and their families, customers, agents and business partners, and we pay close attention to developing situation“, the company said in a statement.
They added that they “will continue to collect information and take appropriate measures if necessary”.
Note that the capacity of the plant Yokohoma in Lipetsk is 1.6 million tires per year.
At the same time, Yokohama Rubber announced support for humanitarian efforts for Ukraine.
“All of us Yokohama Rubber would like to express its deep condolences to the people in Ukraine and nearby countries who have been directly affected,” the statement reads.
The company and its foundation will allocate a total of 50 million yen to support Ukrainian refugees.
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Recall, on March 15, it became known that the French tire manufacturer Michelin (MICP.PA) is suspending its industrial activities in the Russian Federation, as well as exports to the country.
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