Toyo acquires 75% of Chinese tiremaker
Toyo Tire & Rubber Co. Ltd. is acquiring a 75 % equity interest in China-based tire manufacturer Shandong Silverstone Luhe Rubber & Tyre Co. Ltd. (SSLRT).
Toyo says it 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 truck and bus tires from SSLRT, and passenger car tires from Toyo’s new factory which is under construction in Jiangsu province (Toyo Tires Zhangjiagang Co. Ltd.). This will in turn enable Toyo to meet strong demand in rapidly expanding markets in China and elsewhere.
Toyo says it plans to commence production of Toyo tires at this new subsidiary as soon as practicable. The goal is to establish an optimal tire supply system, not only for China, but for all of the company's overseas markets.