Wednesday, April 13, 2011 Toyo to Aquire 75% of a Chinese Tiremaker
 Toyo Tire & Rubber Co. plans to acquire a 75% equity interest in China-based tiremaker Shandong Silverstone Luhe Rubber & Tyre Co. The deal is expected to close in June.
The company has been working to improve its corporate value through a long-term global growth strategy. Through this acquisition, the company will now be in a position to supply 400,000 truck and bus tires annually, as well as passenger car tires from the company’s new factory.
This is the second capacity purchase Toyo has made in the last nine months. Last fall, Toyo acquired Malaysia-based tire manufacturer Silverstone Berhad (no relation to the Chinese company). Toyo said that purchase put it in position “to make a full-scale entry into the fast-growing Southeast Asia market.”
|
